The Hong Kong Court confirmed that noteholders with beneficial interest in global notes do not have standing to present winding-up petitions against issuers.
Meanwhile, the BVI Court reached the opposite conclusion in a...more
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
Judicial comments cast doubt on the ability to compromise US law-governed debt effectively based on Chapter 15 recognition alone.
A recent first instance decision in Hong Kong has highlighted an important...more
11/10/2022
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Commercial Bankruptcy ,
Cross-Border ,
Debt Restructuring ,
Foreign Debt ,
Hong Kong ,
Insolvency ,
Jurisdiction ,
Scheme of Arrangement ,
UNCITRAL
In Hong Kong, the statutory framework for regulating the affairs of insolvent companies is found in the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) (the “C(WUMP)O”) and the Companies (Winding Up)...more