The Hong Kong Court of Appeal has finally laid to rest the vexed issue of whether an arbitration agreement or a winding-up petition should take precedence in an insolvency situation. In two parallel decisions, the Court of...more
New statutory provisions have come into effect that will modernise the way documents are filed with the Official Receiver in Hong Kong. The changes, which took place on the last working day of 2023, pave the way for the...more
The Singapore Court of Appeal has overturned the High Court decision in the case of Founder Group (Hong Kong) Limited (in liquidation) v Singapore JHC Co Pte Ltd [2023] SGCH 159, in the latest development concerning the...more
On 25 October 2023, the Hong Kong Court of First Instance granted leave to appeal the decision in Shandong Chenming Paper Holdings Ltd [2023] HKCFI 2065 to dismiss a winding up petition in favour of arbitration. This opens...more
The Singapore High Court has again confirmed that a winding-up application concerning a disputed debt that is subject to an arbitration agreement will be dismissed if the arbitration agreement is prima facie valid and covers...more
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 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 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
The Hong Kong Court of Appeal has confirmed that the court should respect the effect of an exclusive jurisdiction clause in bankruptcy proceedings, just as it does in ordinary civil actions. To do otherwise, it said, it would...more
Directors who opposed a winding up action citing an unrealistic restructuring proposal have now been ordered to pay costs, after a swift follow-on decision by the Hong Kong Companies Court....more
Directors who oppose company windings up with little more than a hope that a restructuring proposal may bear fruit may have to weigh their actions carefully going forward, following a recent decision by the Hong Kong...more
A Hong Kong court has severely criticised the provisional liquidators (PLs) appointed by the court in the company’s place of incorporation in the Cayman Islands, for trying to interfere with the rights of creditors in Hong...more
The Hong Kong court has sanctioned a scheme of arrangement for a Hong Kong-listed, Bermuda-incorporated fertilizer manufacturer based in the mainland. In doing so, the Honorable Mr Justice Harris also warned holders of U.S....more
The Court of First Instance held in Re Up Energy Development Group Limited [2022] HKCFI 1329 that where the three core requirements for winding-up a foreign company under section 327(1) of the Companies (Winding up and...more
In Shandong Chenming Paper Holdings Limited v Arjowiggins HKK2 Limited [2022] HKCFA 11, the Court of Final Appeal has confirmed that the "leverage" created by the prospect of a winding-up – as opposed to the making of a...more
Student loan debt is a complex issue for both employees and employers. Employees must live with the overwhelming burden of paying off the loan in addition to paying personal expenses. However, employers who offer valuable...more
For the first time in England & Wales, a court has ordered the winding-up of a listed plc on the grounds of loss of substratum – the abandonment of the company's original main object and purpose. If Hong Kong follows this...more
The Hong Kong Court of First Instance has dismissed an application by a British Virgin Islands (BVI) company (C) for an interim anti-suit injunction against proceedings commenced by a Cayman Islands company (D) for the...more
8/18/2020
/ Anti-Suit Injunctions ,
Arbitration ,
Arbitration Agreements ,
British Virgin Islands ,
Cayman Islands ,
Contract Terms ,
Hong Kong ,
Hong Kong International Arbitration Centre (HKIAC) ,
Purchase Agreement ,
Share Buybacks ,
Winding Up Petitions
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
Another Hong Kong court decision has questioned whether the judgment in the leading case of Lasmos Limited v. Southwest Pacific Bauxite (HK) Limited [2018] HKCFI 426, may have gone too far when it suggested that an...more
The Hong Kong Court of Appeal has suggested that a previous Court decision may have overstepped the mark by suggesting that an arbitration clause in a client agreement should generally take precedence over a creditor's right...more