Fulltext Search
Hong Kong Court of First Instance follows the Guy Lam approach notwithstanding the recent English Privy Council's decision in Sian Participation

We recently blogged (here) about the Privy Council decision of Sian Participation Corporation (In Liquidation) v Halimeda InternationalLtd [2024] UKPC 16 (

Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Liquidation
Protection of Dissenting Financial Creditors on Insolvency

This article analyses the extent to which dissenting financial creditors are protected under the Indian insolvency regime.

India, Insolvency & Restructuring, Litigation, Bharucha & Partners, Insolvency, Meta, Insolvency and Bankruptcy Code (India), Supreme Court of the United States, National Company Law Tribunal
Navigating the crossroads between arbitration and insolvency proceedings: the Hong Kong Court of Appeal applies Guy Lam principles in a winding up case involving an arbitration clause

Can a creditor obtain a winding up order against a debtor company if the underlying dispute over the debt is subject to an arbitration agreement between the parties?

Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Herbert Smith Freehills LLP
Group Insolvency - The Need of the Hour

Against the backdrop of recent judicial precedent, this article delves into the need for a group insolvency framework in India, and analyses the report published by the CBIRC in 2021.

Globalisation has led to a significant increase in the number of enterprises which comprise of several closely connected entities that may operate as a single economic unit. As a consequence, difficulties may arise when 1 or more entities in that single economic unit become insolvent as the inability of 1 entity to pay its debts may impact stakeholders in another entity within the group.

Global, India, Insolvency & Restructuring, Litigation, Bharucha & Partners, Insolvency, UNCITRAL, Insolvency and Bankruptcy Board of India, Insolvency and Bankruptcy Code (India), National Company Law Tribunal
The Need for a Robust Cross-Border Insolvency Regime in India

This article analyses India’s proposal to adopt the UNCITRAL Model Law on Cross-Border Insolvency.

Global, India, Insolvency & Restructuring, Litigation, Bharucha & Partners, Insolvency, China Banking and Insurance Regulatory Commission, Insolvency and Bankruptcy Code (India), National Company Law Tribunal
Russian Roulette: Aircraft Lessors or Airlines?

GoFirst’s insolvency has highlighted issues surrounding the insolvency resolution of commercial airlines. This article analyses the issues facing stakeholders, and the adequacy of extant regulations to address these.

India, Aviation, Insolvency & Restructuring, Bharucha & Partners, Insolvency and Bankruptcy Code (India), National Company Law Tribunal
What is the effect of Guy Lam on winding up petitions involving an arbitration clause? A third voice

Where a winding up petition is based on a debt arising from a contract with a non-Hong Kong exclusive jurisdiction clause, the court will tend to dismiss or stay the winding up petition in favour of the parties’ agreed forum unless there are strong countervailing factors.

Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
When informal workouts don’t work out: English High Court rules bank that lent support to restructuring did not dishonestly assist in putting assets beyond creditors’ reach

In the current economic climate, more and more companies are getting into financial difficulties, informal workouts by debtor companies, with support from certain creditors, seem to be increasingly common.

United Kingdom, Banking, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
English High Court gives guidance on the so-called creditor duty where a company faces solvency-threatening claim

When a company is in the so-called “twilight zone” approaching insolvency, it is well-established that the directors’ fiduciary duties require them to take into account interest of creditors (the so-called “creditor duty”).

Hong Kong, United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, High Court of Justice (England & Wales)
Aircraft Lessors Hope for a Smoother Runway Under New Bill

This article was first published on India Business Law Journal on 11 September 2023.

India, Aviation, Insolvency & Restructuring, Litigation, Bharucha & Partners, Civil aviation, Ministry of Civil Aviation (India), Insolvency and Bankruptcy Code (India), Delhi High Court, National Company Law Tribunal