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Dispute Resolution Winding Up Petitions

Hogan Lovells

UK: A remedy of last resort: High Court orders winding up of company on just and equitable ground

Hogan Lovells on

In the recent case of Dosanjh v Balendran, the High Court granted an order for the winding up of a company on the just and equitable ground following a petition by one of the company’s two shareholders. Winding up has been...more

BCLP

“Dividing Line” in Public Policy - Insolvency and Arbitration

BCLP on

A creditor commences winding-up proceedings against a debtor company on the basis that the company is insolvent. The petition debt relates to a dispute within the ambit of the arbitration agreement between the creditor and...more

Carey Olsen

The interplay between insolvency and arbitration proceedings: an insight into developments across jurisdictions

Carey Olsen on

Arbitration clauses are commonly found in commercial contracts. However, tricky issues arise when a company subsequently seeks an order for winding up, particularly in circumstances where the facts relied on in support of the...more

Conyers

All Good Things Must Come to an End: The Cayman Islands Court of Appeal Provides Helpful Guidance on Dissolution Orders

Conyers on

Frequently obtained, but rarely challenged, dissolution orders are an important final step in the process of liquidation. Dissolution represents the end of an official liquidation and the end of a company’s life. In a...more

Conyers

Winding-Up Petition Struck Out, Joint Provisional Liquidators Discharged in Bermuda

Conyers on

On 15 May 2024, the Bermuda Court granted an order striking out a winding-up petition (the “Petition”), setting aside an earlier order appointing joint provisional liquidators (“JPLs”), and discharging the JPLs appointed over...more

Conyers

Winding Up Proceedings Prevail: Privy Council Confirms No Stay of Liquidation in Favour of Arbitration

Conyers on

The Privy Council has recently upheld a BVI judgment refusing stay of a winding up petition in favour of arbitration. The recent Sian Participation Corp (In Liquidation) v Halimeda International Ltd1 Privy Council decision...more

Conyers

Cayman Islands Non-Petition Clauses: Precision Is Paramount

Conyers on

In a very recent judgment in the wake of the Abraaj Group fallout, the Grand Court of the Cayman Islands refused to strike out a just and equitable winding up petition and, in the process, analysed the effect of a purported...more

Conyers

The Effect of Subordination Agreements in the Event of Insolvency

Conyers on

Is it possible for a debtor company to issue debt (such as bonds) and contractually agree for that debt to rank lower in priority than debts owed by a company to other unsecured creditors? This article examines the commercial...more

Conyers

Successfully Secures Dismissal of Application to Set Aside a Statutory Demand in the British Virgin Islands

Conyers on

On 8 February 2024, the Honourable Mr Justice Paul Webster KC dismissed an application to set aside a statutory demand served on Angola Group Holdings Limited (the “Company”) by Bai Jun Tian Cheng Limited (“Bai Jun”). Conyers...more

Conyers

Winding-Up Order Obtained Against Cayman Islands Fund Investment Manager Within 3 Months

Conyers on

The Honourable Mr Justice Kawaley granted a winding up order against Airstream Investment Ltd (the “Company”), an exempted company incorporated under the laws of the Cayman Islands. Conyers acted for the successful...more

Conyers

Cayman Islands Shareholder Remedies: Stays in Favour of Arbitration

Conyers on

On 20 September 2023, the Privy Council delivered the much-anticipated judgment in FamilyMart China Holding Co Ltd v Ting Chuan (Cayman Islands) Holding Corporation [2023] UKPC 33, on appeal from the Cayman Islands Court of...more

Latham & Watkins LLP

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

Latham & Watkins LLP on

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

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