Liquidation

Farfetch Faces Mounting Challenges as Lawsuit Demands Liquidation and Key Partners Drop Out

by

LONDON, England – Luxury e-commerce marketplace, Farfetch, has had a tumultuous week, causing concerns for its new owner, South Korea-based Coupang. The trouble began when a group of holders of Farfetch convertible bonds, known as the 2027 Ad Hoc Group, filed a lawsuit in the Cayman Islands seeking to liquidate Farfetch Limited and recover $404 million in losses. Neiman Marcus Group (NMG) also announced the termination of its commercial partnership with Farfetch, although the company continues to hold a $200 million minority investment in NMG. Additionally, luxury brand conglomerate Kering has pulled all its brands … Read more

Landmark Decision: Hong Kong Judge Orders Liquidation of China’s Evergrande

by

HONG KONG – A judge in Hong Kong has ordered China’s Evergrande Group to liquidate its assets, as the embattled company faces mounting debt and an uncertain future. The ruling comes in response to a winding-up petition filed by a creditor of Evergrande. Evergrande, one of China’s largest property developers, has been grappling with a financial crisis that has sent shockwaves through the country’s real estate sector. The company has accumulated debts of over $300 billion, leading to concerns about its ability to repay creditors and complete ongoing construction projects. The liquidation order issued by … Read more