Before committing to a franchise business, consider...
A bankruptcy petition should not proceed if the debt is disputed and subject to an exclusive jurisdiction clause in favour of a foreign court. The Hong Kong Court of Final Appeal (CFA) has ruled that if a bankruptcy...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 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
Alfred Siegel v. John Fitzgerald, III, No. 21-441: This case, involving the Bankruptcy Judgeship Act of 2017 (“BJA”) applicable to Chapter 11 bankruptcies, presents the following question: Whether the BJA violates the...more
In a noteworthy decision handed down on 17 December 2021 (“Decision”), the High Court of Hong Kong recognised the Mainland China bankruptcy administrator (“Administrator”) of Peking University Founder Group Limited (PKU) and...more
On June 22, 2020, the Federal Energy Regulatory Commission ("FERC") issued an order concluding that FERC and the U.S. bankruptcy courts have concurrent jurisdiction to review and address the disposition of natural gas...more
In FERC v. FirstEnergy Solutions Corp. (In re FirstEnergy Solutions Corp), Case No. 18-3787 (6th Cir. Dec. 12, 2019), the Sixth Circuit affirmed the bankruptcy court’s jurisdiction over the rejection of certain power purchase...more
On December 12, 2019, the US Court of Appeals for the Sixth Circuit issued a highly anticipated ruling in the FirstEnergy Solutions Corp. bankruptcy case, regarding the efforts of FirstEnergy Solutions Corp. (FirstEnergy or...more
Periods of volatility in energy prices cause spikes in energy companies’ bankruptcies. These bankruptcies lead to debtors’ attempts to reject power purchase agreements (“PPAs”). These attempts ignite the unresolved legal...more
U.S. Bankruptcy Judge Dennis Montali recently ruled in the Chapter 11 case of Pacific Gas & Electric (“PG&E”) that the Federal Energy Regulatory Commission (“FERC”) has no jurisdiction to interfere with the ability of a...more
In a much-awaited and pivotal decision in the PG&E chapter 11 proceeding, the U.S. Bankruptcy Court for the Northern District of California held that it not only has exclusive jurisdiction over the rejection of wholesale...more
A recent ruling in the Pacific Gas and Electric Company (PG&E) bankruptcy proceeding highlights the risk to certain renewable energy projects from utility bankruptcy. In a June 7, 2019 ruling, the PG&E bankruptcy court denied...more
The Federal Energy Regulatory Commission (“FERC” or the “Commission”) issued an order on May 1, 2019 denying rehearing of its orders asserting concurrent jurisdiction with a bankruptcy court over wholesale power contracts....more
Seventeen states now have statutes allowing for the creation of a domestic asset protection trust (“DAPT”), also sometimes referred to as a self settled spendthrift trust or a self settled asset protection trust. Although...more
On Jan. 25, 2019 – just days before Pacific Gas and Electric (PG&E) proposes to file its bankruptcy case – the Federal Energy Regulatory Commission (FERC) issued an order asserting its concurrent authority to approve proposed...more
Shareholder of a Korean corporation (“Cuzco Korea”), the sole member of a chapter 11 limited liability company debtor (“Cuzco USA” or the “Debtor”), brought an adversary proceeding against the Debtor and others, asserting...more
Jurisdiction clauses in contracts set out which countries’ courts have the right to hear disputes arising out of the contract. It is important that they are clearly drafted as ambiguity can lead to expensive disagreements...more