On 17 December 2021, the High Court in Nuoxi Capital v Peking University Founder Group Company Limited [2021] HKCFI 3817 held that the claims under a Keepwell Deed, notwithstanding ongoing insolvency proceedings in the Mainland, should be determined in Hong Kong in accordance with its exclusive jurisdiction clause.
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The Hong Kong Court of First Instance recognised the reorgansation proceedings of a company based in the PRC for the first time in Hong Kong in Re HNA Group Co Limited [2021] HKCFI 2897.
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