Trowers & Hamlins Makes Second Creditor Distribution as Liquidator of The International Banking Corporation

Trowers & Hamlins, acting as external administrator and now liquidator of The International Banking Corporation (TIBC), together with AlixPartners as specialist insolvency and restructuring adviser, assisted TIBC and its creditors in the administration and subsequent liquidation process. The firm was appointed external administrator in 2009 after TIBC failed to meet its obligations to international bank creditors, a role that is uncommon for a law firm. Following multi-jurisdictional litigation and negotiations with the bank's debtors, the administrator reached a creditor-approved settlement arrangement in 2021 that enabled the transition from administration to liquidation in March 2023. Trowers & Hamlins issued the first distribution in January 2024 and completed a further payout in Q4 2025 of US$58 million. That second distribution brought cumulative returns to creditors to more than US$320 million, representing 16.8 cents on the dollar. The distribution marks continued progress in the estate's liquidation and reflects sustained creditor support throughout the process. The Trowers team drew on lawyers from its UK, Bahrain, UAE and Malaysia offices and was supported throughout by AlixPartners, the specialist insolvency and restructuring practice. Trowers & Hamlins represented The International Banking Corporation and its creditors with a team composed by: Jeremy Ingham, International Managing Partner and long-time leader of the multi-partner team. AlixPartners supported Trowers & Hamlins and The International Banking Corporation with a specialist insolvency and restructuring team.

Trowers & Hamlins Makes Second Creditor Distribution as Liquidator of The International Banking Corporation

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