On August 31, 2022, Part V of the Cayman Islands Companies Act (the “Companies Act”) was amended to introduce the new role of a court-appointed “Restructuring Officer” and a dedicated “Restructuring Petition” (the “RO...more
On 23 October 2024, Deputy High Court Judge Le Pichon of the Court of First Instance in the High Court of the Hong Kong SAR granted recognition and assistance to Chan Ho Yin (also known as Michael Chan) (“Mr Chan“) of Kroll...more
In Garofalo v Crisp and Ors [2024] EWHC 1737 (Ch), the English Court found that a higher evidential threshold should be applied when deciding whether or not to grant an exceptional interim relief for a change of management...more
In Ho Kwok Leung Glen, Hau Kai Ling and Ge Jun v Nan Hai Corporation Limited [2024] SC (Bda) 2 Civ, 31 January 2024, the Supreme Court of Bermuda (the “Court”) rejected the Plaintiffs’ application for a declaration that seven...more
Nov 2023 In August 2021, the BVI Commercial Court handed down judgment on liability in favour of the Claimants against seven directors of Vanway for carrying out a fraud on the minority shareholders, in selling the assets of...more
12/8/2023
/ Board of Directors ,
Breach of Duty ,
British Virgin Islands ,
BVI Business Companies ,
Corporate Governance ,
Corporate Liability ,
Dispute Resolution ,
Fiduciary Duty ,
Final Judgment ,
Fraud ,
Hong Kong ,
Minority Shareholders ,
Settlement
In the case of Re China Properties Group Limited (in Liquidation) [2023] HKCFI 2346, the Hong Kong Court has shown its commitment to providing assistance to local liquidators appointed by it by asserting in personam...more
11/10/2023
/ Board of Directors ,
Business Disputes ,
Business Litigation ,
BVI Business Companies ,
Cayman Islands ,
China ,
Corporate Governance ,
Dispute Resolution ,
Hong Kong ,
In-Personam ,
Insolvency ,
Liquidation
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
In a recent judgment Re Cradle Holdings Inc. (FSD 318 of 2022, unreported, 4 September 2023), the Chief Justice of the Cayman Islands ruled on the novel issue as to whether and by what route a company which has been...more
10/18/2023
/ BVI Business Companies ,
Cayman Islands ,
Commercial Litigation ,
Companies Act ,
Corporate Restructuring ,
Dispute Resolution ,
Hong Kong ,
Insolvency ,
Legislative Agendas ,
Regulatory Requirements ,
Unregistered Franchises
The Quincecare duty has become a popular tool for companies (or their liquidators) to claim against banks for funds misappropriated on wrongful payment instructions. It requires a bank to refrain from executing a payment...more
5/5/2023
/ Appeals ,
Banking Sector ,
Beneficial Owner ,
Commercial Litigation ,
Contributory Negligence ,
Dispute Resolution ,
Foreign Bank Accounts ,
Hong Kong ,
Liquidation ,
Misappropriation ,
Time-Barred Claims ,
UK Privy Council ,
UK Supreme Court