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Insolvency Contract Terms

White & Case LLP

South African Bank and Bank Controlling Company Flac Instruments: Contractual Recognition of the South African Reserve Bank’s...

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The Prudential Authority of South Africa (the "Prudential Authority") published Draft Prudential Standard RA03 entitled "Flac Instrument Requirements for Designated Institutions" (the "Draft Flac Standard") in December 2023...more

BCLP

Fair Payment Practices: Recent Developments

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In this Insight, first published in PLC, Jennifer Badham discusses various attempts to address late payments and long payment terms that are a common problem in construction industry supply chains, including two recent...more

Mayer Brown

The Right of Set-off in Insolvency Proceedings

Mayer Brown on

The right to set off a claim is a legal concept through which reciprocal claims between a creditor and a debtor company are settled against each other reducing or extinguishing the smaller claim and leaving only a balance...more

Latham & Watkins LLP

Hong Kong Court Orders Winding-Up of Company Despite Parties’ Arbitration Agreement

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A recent ruling shows that an arbitration agreement alone is not necessarily a complete defence to a Hong Kong winding-up petition. The Hong Kong Companies Court recently issued a winding-up order against a debtor company,...more

Goodwin

The Silicon Valley Bank UK insolvency: FAQ for those doing business with the Bank

Goodwin on

News of the failure of Silicon Valley Bank in the United States has dominated headlines over the last few days. Late yesterday, Friday, 10 March 2023, the Bank of England made an announcement about the status of Silicon...more

BCLP

Briefcase: Quarterly Real Estate Update - Cases and News - September 2021

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Briefcase: Quarterly Real Estate Update - Cases and News including: ..The Royal Parks Limited and the Secretary of State for Digital, Culture, Media and Sport v Bluebird Boats Limited ..Monsolar IQ Ltd v Woden Park...more

BCLP

Key trends in contractual negotiations

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The pandemic has put many contractual relationships under immense pressure. We explored in our last Business as (un)usual article some of the problems which contracting parties may have inadvertently created for themselves...more

BCLP

Briefcase Quarterly Update: Key Real Estate Cases - July 2021

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Briefcase: Quarterly update on key real estate cases including: Pandemic Clause Included in Business Lease Renewal - ..A shopping centre lease renewal decision contains useful guidance on how the court will assess...more

Hogan Lovells

Hotel contracts - Deferred or suspended rent due to Corona

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Does the owner bear the risk in case of bankruptcy? Due to the tense situation in the hotel industry, various lessees are currently approaching their lessors asking for deferral or abatement of rent payments for the...more

Hogan Lovells

Hong Kong government announces long-awaited corporate rescue regime

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The Hong Kong government is proposing much-anticipated legislation for the introduction of a corporate rescue procedure and insolvent trading regime. Hong Kong has, for years, struggled to introduce a statutory corporate...more

Hogan Lovells

Talking Point: Insolvency risk in the construction industry

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In the difficult market conditions which have accompanied the COVID-19 pandemic, the financial health of many industries has been adversely affected. The construction industry is no exception and the insolvency of a party to...more

BCLP

Impact of arbitration clauses on insolvency proceedings: a retreat from the Lasmos Approach?

BCLP on

Recent Hong Kong cases have highlighted varying approaches regarding the impact of arbitration clauses on insolvency proceedings, in particular, on the Court’s discretion to make a winding-up order where a debt is disputed. ...more

Hogan Lovells

What's good for the goose – Hong Kong Court revisits iconic insolvency decision

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In a recent judgment, the Hong Kong Court reiterated the principles outlined in Kam Leung Sui Kwan v. Kam Kwan Lai [2015] 18 HKCFAR 501 (Yung Kee), the case concerning the famous roast goose restaurant in the heart of Hong...more

Hogan Lovells

Contracts and Insolvency – a transformational change

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New statutory provisions retrospectively change the way many existing and future contracts work. Businesses urgently need to look afresh not just at supply arrangements but also many other significant transactions of which...more

Hogan Lovells

Force majeure claims in future waves of COVID-19: four key actions

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As countries emerge from lockdown, talk turns to The Return of COVID-19. Here’s how to succeed in future force majeure claims and stop your projects from becoming what sounds like a second-rate horror movie....more

Skadden, Arps, Slate, Meagher & Flom LLP

Court of Chancery Dismisses Consent and Unconscionability Claims Challenging Contract Between Parent and Wholly Owned Subsidiary

On March 30, 2020, in The Chemours Company v. DowDuPont Inc., et al., C.A. No. 2019-0351-SG (Del. Ch. Mar. 30, 2020), the Delaware Court of Chancery issued an important decision reaffirming bedrock principles of Delaware...more

Hogan Lovells

COVID-19: a checklist for dealing with contractual default and renegotiation

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COVID-19 is likely to have a significant impact on the (non-)performance of commercial contracts across all sectors. This note provides a high-level checklist of some of the key issues to consider when dealing with an actual...more

Dechert LLP

COVID-19: Suspension of Contractual Rights and Obligations in Singapore (and Possibly Soon Elsewhere)

Dechert LLP on

Contractual rights agreed in the past may look very different today and may not be enforceable tomorrow, but (strangely) could be in the future. Such are the historic times we are living through. ...more

Morgan Lewis

COVID-19 Response in France: Legal Measures Adopted in Various Fields

Morgan Lewis on

The French government has been adopting a series of legal measures in response to the coronavirus (COVID-19) pandemic. The French Parliament voted on a law responding to the epidemic on 23 March (the Bill). ...more

Hogan Lovells

Temporary relief for struggling businesses and individuals in Singapore during COVID-19

Hogan Lovells on

COVID-19 (Temporary Measures) Bill to offer respite for businesses and individuals struggling to fulfil contractual obligations or facing bankruptcy/insolvency as a result of the COVID-19 outbreak. ...more

Morgan Lewis

Responding to COVID-19: Temporary Relief in Singapore for Inability to Perform Contractual Obligations

Morgan Lewis on

The Ministry of Law of Singapore announced the introduction of a new bill on 1 April aimed at protecting individuals and businesses that are unable to fulfil their contractual obligations because of the coronavirus (COVID-19)...more

King & Spalding

Analysis of Primary HPP Construction Risks

King & Spalding on

This client alert analyses the primary Employer risks, arising out of the construction of major hydropower projects in emerging market countries, funded by equity contributions and senior-secured, limited-recourse, project...more

A&O Shearman

COVID-19 (Novel Coronavirus) - 10 key points for effective contingency planning

A&O Shearman on

COVID-19 is at the top of the agenda for businesses globally, for good reason. Here are 10 key points to consider to ensure your business is fully prepared....more

White & Case LLP

Construction contracts: vesting of title to goods

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When does title to goods transfer from a contractor to an employer? This can be a critical issue, especially when a party to a project has become insolvent. A recent English case considered this issue, and the application of...more

Hogan Lovells

German insolvency law: Group payments (sometimes maybe) not per se voidable?

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Germany has notoriously broad voidability laws. As a rule of thumb, any payment by a third party has high voidability risks if the third party has no obligation to make the payment under the contract....more

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