News & Analysis as of

Liquidation China

Dechert LLP

Recent Developments in Cross-Border Insolvency Cases

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Two recent cases out of the Third Circuit and the Southern District of New York highlight some of the developing formulas US courts are using when engaging with foreign debtors. In a case out of the Third Circuit, Vertiv v....more

Conyers

A Clever Shortcut? Thoughts on the China Properties Group Case

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In the case of Re China Properties Group Limited (in Liquidation) [2023] HKCFI 2346, the Hong Kong Court has shown its commitment to providing assistance to local liquidators appointed by it by asserting in personam...more

Hogan Lovells

Do as you're told - Hong Kong court orders uncooperative former director to ratify liquidator appointment

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The Hong Kong court has granted an order forcing an uncooperative former director of a Hong Kong listed company to ratify the appointment of a Hong Kong liquidator as the sole director of the companies' four BVI subsidiaries....more

Braumiller Law Group, PLLC

Hot Topics in International Trade - August 2023 - CAFC Refuses to Reverse CIT Decision on Reliquidation Order, Target, Home...

This article examines Target Corporation v. United States, Slip Op. 23-106 (Ct Int’l Trade July 20, 2023), a recent ruling by the Court of International Trade (CIT) and its implications on liquidation matters. The court...more

Latham & Watkins LLP

Hong Kong Court Confirms Enforceability of Keepwell Deeds

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Two recent landmark decisions provide valuable guidance on this commonly used form of credit enhancement. Keepwell deeds have in recent years grown into a common form of credit enhancement used by companies in mainland...more

Hogan Lovells

PRC court makes first recognition order under new Hong Kong – PRC insolvency arrangement

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In a significant decision, the Shenzhen Intermediate People's Court (Shenzhen court) has ordered formal recognition in the mainland for Hong Kong appointed liquidators. This is the first occasion on which a mainland court has...more

Jones Day

Milestone in Cross-Border Insolvency: A Successful Application Under the Pilot Measure from Hong Kong to Mainland China

Jones Day on

Background of the Pilot Measure The mechanism set out in "The Supreme People's Court's Opinion on Taking Forward a Pilot Measure in relation to the Recognition of and Assistance to Insolvency Proceedings in the Hong Kong...more

Akin Gump Strauss Hauer & Feld LLP

Recognition of Hong Kong Insolvency Proceedings in Mainland China – A Test Case in the Making?

In Re Ando Credit Limited [2020] HKCFI 2775 (“Re Ando”), the Hong Kong Companies Court recently appointed provisional liquidators over a Hong Kong company, Ando Credit Limited, in novel circumstances with potentially...more

Pillsbury Winthrop Shaw Pittman LLP

Implementing China’s New Foreign Investment Law, Part Five: Exit Options for Investors of Foreign Invested Enterprises

The fifth and final installment of a series of alerts focusing on practical issues relating to China’s new Foreign Investment Law. Foreign investors seeking to exit from their existing foreign invested enterprises (FIEs)...more

Hogan Lovells

A welcome red packet – Hong Kong court recognises mainland Chinese administrators for first time

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Just in time for Chinese New Year, a Hong Kong court has taken a major step forward in the developing law on cross-border insolvency by recognising a mainland Chinese liquidation for the first time. ...more

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