The Greater Bay Area (GBA) initiative is an ambitious scheme to link the nine cities in Guangdong’s Pearl River Delta, Hong Kong and Macau into an integrated economy and world class business hub.
Commercial aviation has been one of the sectors most heavily impacted by COVID-19, but thanks to the strong controlling measures to weather the impact of the pandemic, the People’s Republic of China (the “PRC”) has been a market in which some form of aviation recovery is happening. Unfortunately, the recovery has not come soon enough for the Chinese conglomerate HNA.
对于《最高人民法院关于适用〈中华人民共和国民法典〉有关担保制度的解释》（下称“《民法典担保解释》”或“新规”）对金融资管业务的影响，我们在上篇及中篇中从担保物权受托持有、增信文件性质、上市公司对外担保、担保物权登记、抵押预告登记等角度进行了详细探析。本篇我们将从资产收益权回购交易、仲裁与申请实现担保物权程序、担保与破产衔接角度，着重介绍新规的修订及对金融资管业务的影响。择重点概括如下：
一、新规明确特定资产或资产收益权转让及回购交易中让与担保规则的处理方法
China Huiyuan Juice Group Limited [2020] HKCFI 2940 (date of decision: 19 November 2020)
The Hong Kong courts have developed over time three core requirements by reference to which the court assesses whether or not a good reason for making a winding-up-order against a foreign incorporated company in Hong Kong has been demonstrated.
In Re Ando Credit Limited [2020] HKCFI 2775, the Honourable Mr Justice Harris appointed provisional liquidators over a Hong Kong- incorporated company, in an application that broke ground as the first of its kind, made with the express purpose of seeking recognition in the Mainland.
In collaboration with our foreign law firm partners, we continue to update our chart of COVID-19 measures taken by governments around the world. Today’s update includes new information for many countries as indicated in the chart: Global Government Measures Taken in Response to COVID-19.
As restructuring and cross-border insolvency issues become increasingly global, an understanding of the influence of different cultures and some of the key drivers is critical. The INSOL panel was diverse, with members from Asia (Helena Huang, King & Wood Mallesons), North America (Renee Dailey, Morgan, Lewis & Bockius LLP), South Africa (Paul Winer, ENSafrica) and Latin America (The Honourable Judge Maria Cristina O’Reilly, National Commercial Court, Argentina).
被称为“中国民办教育破产第一案”的遵义中山中学破产案，曾经一度在民办教育领域闹的沸沸扬扬，立下豪言壮志的校长刘永松经营失败锒铛入狱，引发嘘声一片。关联到破产理论和实务，对民办学校破产的程序适用、各种类型债权清偿顺位及法律依据等众多问题，莫衷一是，难有定论。四川省法院系统层报最高人民法院，最高人民法院专门就该案处理召开审判委员会会议，讨论中山中学破产案的程序适用及债权清偿等重大疑难问题。最高人民法院于2010年12月16日发布了《关于因资不抵债无法继续办学被终止的民办学校如何组织清算问题的批复》，对相关问题进行了答复。该案以遵义一中1.7亿元接盘破产财产，破产清算偿债，才得以尘埃落定。[1]虽然该案顺利办结，但隐藏在案件背后对民办教育机构的市场退出路径、《民办教育促进法》和《企业破产法》的冲突和适用、不同债权类型的清偿顺位等疑云仍挥散不去。
This is the twenty-ninth in our series of General Counsel Updates which aim to summarise major developments in key areas.
As the Novel coronavirus (COVID-19) pandemic continues to spread across the globe, people and businesses are facing unprecedented challenges, both immediate and strategic. Governments in various jurisdictions have announced various measures to try to alleviate the distress caused by the numerous issues that have arisen and continue to arise, particularly around cashflow and employees.