The decision confirms that an arbitration agreement will be upheld in the face of insolvency proceedings only if it can be shown that the petition debt is genuinely disputed on substantial grounds....more
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
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
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
On 11 November 2022, Mr Justice Kawaley ordered the first appointment of restructuring officers in Re Oriente Group Limited (FSD 231 of 2022) under the new Cayman Islands restructuring regime, with reserved written reasons to...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
Creditors seeking to enforce an undisputed debt against a solvent foreign non-Hong Kong company in the courts of Hong Kong will welcome the recent judgment of the Court of Final Appeal (CFA) in Shandong Chenming Paper...more
In the recent decision of Evergreen International Holdings Limited, delivered on 11 January 2022, the Grand Court of the Cayman Islands made an order for the immediate winding up of a company notwithstanding the company’s...more
KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER RUSSIAN LAW - The main piece of the legislation that regulates the activities of parties in insolvency proceedings in the Russian Federation is the...more
In this article we look at current trends and developments at the intersection between insolvency and dispute resolution, including a rundown of some of the latest legislative changes, and issues to consider when litigating...more
The UK Government yesterday announced that it will proceed with the phasing out of temporary measures introduced to protect businesses from creditor action during the COVID-19 pandemic, whilst also announcing new measures to...more
The restrictions on filing statutory demands and winding up petitions has been extended (again) until the end of September 2021. At the same time, the moratorium on landlords evicting commercial tenants has been extended to...more
In Re Lamtex Holdings Limited, the Hong Kong Companies Court recently ordered the winding-up of a Bermuda-incorporated Hong Kong-listed company. While the winding-up in Hong Kong of a foreign-incorporated company is not...more
The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. Many of the provisions of the act are based on the bill which was initially proposed pre-COVID-19, with a framework having been set out...more
In several Commonwealth jurisdictions, the corporate legislation allows creditors to petition a court to order the winding up of a debtor in circumstances where that debtor is unable to pay its debts as they fall due. Such...more
Introduction - On 26 June 2020, the Corporate Insolvency and Governance Act 2020 (“CIGA”) came into force. CIGA is intended to relieve some pressure on businesses operating during the COVID-19 pandemic, and also to...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