Three recent Hong Kong first instance court decisions have left undecided the question of whether a winding-up petition will trump an agreement to arbitrate when it comes to a winding-up and particularly in the context of...more
The Hong Kong court has ruled that a tribunal had no jurisdiction over a third party that had been joined as an additional party to an HKIAC arbitration. The court in R v A [2023] HKCFI 2034 ordered that a summons issued by...more
The Hong Kong court has handed down a significant decision on the issue of whether an individual bondholder under a global note can present a winding up petition against a bond issuer. The court in Re Leading Holdings Group...more
In C v D [2023] HKCFA 16, the Hong Kong Court of Final Appeal confirmed that compliance with pre-arbitration conditions in an escalation clause is a matter of admissibility, rather than a jurisdictional issue, and is not...more
In the case of Re Guangdong Overseas Construction Corporation [2023] HKCFI 1340, the Honourable Madam Justice Linda Chan recognized and provided assistance to a mainland China appointed administrator over a mainland China...more
A Hong Kong court has awarded a trustee enforcing obligations under a keepwell deed more than US$489 million after finding the keepwell provider to be in breach. The decision by the Honourable Mr Justice Harris in Citicorp...more
A Hong Kong court has reminded debtors of the need to present a credible and realistic restructuring proposal when facing creditors threatening winding up actions. In Re Jiayuan International Group Limited (佳源國際控股有限公司) [2023]...more
In the latest development regarding the validity and enforceability of keepwell deeds in the "Peking Founder” litigation, a Hong Kong court has awarded more than US$164 million by way of damages to one of the plaintiffs who...more
The Hong Kong Court of Final Appeal (CFA) has confirmed a Court of Appeal finding that the court should respect the effect of an exclusive jurisdiction clause in bankruptcy proceedings, just as it does in ordinary civil...more
The Hong Kong Court of Appeal has overturned a first instance judgment that had held that the longstanding use of "letters of no consent" to preserve monies held in bank accounts suspected of harbouring the proceeds of crime,...more
A Hong Kong court has for the first time declared that cryptocurrencies are property and capable of being held on trust. In a landmark ruling, the Honourable Madam Justice Linda Chan, in Re Gatecoin Limited [2023] HKCFI 91,...more
A Hong Kong court has set aside an HKIAC Final Award finding that the arbitrator's conduct was so "seriously flawed" and "egregious" that there had been a serious denial of due process....more
In another blow to the concept of "soft touch" provisional liquidation, the Court of First Instance has granted an ancillary winding up order against a Hong Kong listed company that had already been wound up in its place of...more
Parties to an arbitration only need to be given a "reasonable" opportunity to present their case and to address the cases of their opponents under the Hong Kong Arbitration Ordinance. So ruled the Honourable Justice Mimmie...more
Hong Kong’s last remaining independent airline carrier, Hong Kong Airlines Limited has undergone a significant debt restructuring. In parallel proceedings (a restructuring plan in the UK and a scheme of arrangement in Hong...more
Two recent English and Hong Kong court decisions have given confidence to lenders that they should be able to enforce their rights against creditors under so-called asymmetric or hybrid dispute resolution clauses....more
As the world welcomes in the Year of the Rabbit, we look back at seven decisions that made an impact over the past year.
In the decisions, the Hong Kong courts considered the circumstances in which interim relief should...more
A Hong Kong court has for the first time convicted and imprisoned an individual for obstructing employees of the Securities and Futures Commission (SFC) in performance of their functions pursuant to the Securities and Futures...more
The Hong Kong Court of Final Appeal has granted leave to appeal in the case of C v D [2022] HKCFA 25, against last year's finding by the Court of Appeal that the validity of "escalation clauses" – multi-tiered dispute...more
The Hong Kong court has dismissed an application seeking to restrain a party to an arbitration from publishing information relating to arbitrations commenced in relation to an unspecified product. In A v B [2022] HKCFI 3620,...more
The Hong Kong government expects to begin discussions next year to join the Regional Comprehensive Economic Partnership (RCEP). RCEP, the largest free trade agreement ever, should have the effect of lowering tariffs,...more
In Re Unity Group Holdings International Ltd [2022] HKCFI 3419, the Hong Kong court has for the first time sanctioned a scheme of arrangement that releases debts of third-party obligors that were guaranteed by the scheme...more
2022 has been a year which has seen significant developments in court-led corporate rescue and insolvency law reform in Hong Kong. In light of the lingering COVID19 pandemic, it was all the more important that the Hong Kong...more
A wide-ranging mechanism allowing for reciprocal enforcement of judgments in mainland China and Hong Kong has come one stage closer with the gazetting on 4 November 2022 of the Mainland Judgments in Civil and Commercial...more
An important international convention, which promises to free up trade between Hong Kong and some of its most important trading partners, comes into force on 1 December 2022. Businesses who enter into international...more