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Hong Kong court departs from English law in its approach to arbitration clauses in insolvency cases

Key takeaways

Hong Kong, United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, Reed Smith LLP
Hong Kong Court of Appeal to consider application of arbitration clauses in insolvency cases

Key takeaways

Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, Reed Smith LLP, Court of First Instance (Hong Kong)
Hong Kong companies court considers impact of Re Guy Lam on arbitral disputes

In the latest decision of the Hong Kong court to consider the interplay between arbitration clauses and winding-up or bankruptcy petitions, on 22 May 2023, the Hon. Linda Chan J (the Judge) made a winding-up order against Simplicity & Vogue Retailing (HK) Co. Limited (the Company) and rejected the Company’s argument that the dispute over the underlying debt should be referred to arbitration.

Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, Reed Smith LLP
No Contradiction in Contribution: Tenth Circuit Finds that Bankruptcy Court Approval of Settlement of CERCLA Environmental Claims Does Not Estop Subsequent CERCLA Contribution Claim

Overview

In Asarco, LLC v. Noranda Mining, Inc., the Tenth Circuit Court of Appeals held that representations made to the bankruptcy court that the Debtor’s settlement of environmental claims reflected only the Debtor’s share of the cleanup costs did not judicially estop the Debtor from brining a contribution claim against another potentially responsible party for those same costs.

USA, Environment & Climate Change, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, US Environmental Protection Agency, Title 11 of the US Code, United States bankruptcy court, Tenth Circuit