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
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
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
Due to the recent challenging economic environment, the law’s treatment of creditors’ interests in a restructuring or insolvency has been a hot topic. From a creditor’s perspective, its objective will be straightforward: to...more
11/9/2022
/ Appeals ,
BVI Business Companies ,
Cayman Islands ,
Corporate Restructuring ,
Creditors ,
Debtors ,
HSBC ,
Insolvency ,
Liquidation ,
Shareholders ,
UK ,
UK Companies Acts ,
UK Supreme Court
On 24 June 2022, the Honourable Mr Justice Harris (of the High Court of Hong Kong Special Administrative Region) granted assistance to Cayman Islands appointed Joint Provisional Liquidators (the “JPLs”) of Seahawk China...more
7/29/2022
/ Business Assets ,
Business Litigation ,
Cayman Islands ,
Cross-Border ,
Hong Kong ,
Insolvency ,
Investment Funds ,
Jurisdiction ,
Liquidation ,
Shareholder Resolution ,
Shareholders
In the recent judgment In the Matter of GTI Holdings Limited delivered on 15 March 2022 , the Cayman Islands Grand Court reiterated the importance of principles of comity in cross-border insolvency matters and the central...more