在最新的 Re USUM Investment Group Ltd[2026] HKCFI 1320 一案中，香港公司法庭就普通法下对内地重整程序的承认（recognition）与协助（assistance），处理了若干“新颖而重要的问题（Novel and Important Questions）”，包括：香港法庭是否有权承认经境外法院（本案为内地法院）批准的企业破产重整；如有，具体的协助范围包括哪些？

本案中，香港公司法庭最终批准了由重庆市第五中级人民法院委任的管理人（Administrators）在香港提出的申请。该判决为日后内地与香港跨境重整的处理方式提供了更清晰的、权威性的分析路径，并进一步强化香港作为普通法跨境破产／重整枢纽司法管辖区的定位。

事实背景

In Re USUM Investment Group Ltd[2026] HKCFI 1320, the Hong Kong Companies Court delivered a landmark judgment concerned with “novel and important questions as to whether the court has power to recognize a restructuring approved by a foreign court and, if so, the extent of such assistance”.

In a recent decision, Deputy High Court Judge Gary CC Lam dismissed an application to strike out an unfair preference claim brought by the liquidators of RZ3262019 Limited. The judgment provides a significant analysis of issue estoppel, particularly on the novel question of how an issue is characterised when a foreign court has applied a different, higher standard of proof.

Background

In this week’s TGIF, we consider the recent case of Vita Group Ltd, in the matter of Vita Group Ltd [2023] FCA 400, in which his Honour Justice Jackman outlined practical changes to the way schemes of arrangement should be implemented through the Federal Court to make them simpler, faster and more cost efficient.

Key takeaways

On 15 May 2023 (with Reasons for Decision delivered on 18 May 2023), the Companies Court made a winding-up order against Dangdai International Investments Ltd (當代國際投資有限公司) (“the Company”) which is in turn wholly owned by Wuhan Dangdai Science & Technology Industries (Group) Company Ltd (武漢當代科技產業集團股份有限公司) (“Wuhan Dangdai”).

In this week’s TGIF, we consider the Federal Court’s recent decision inFotios (Bankrupt) v Helios Corporation Pty Ltd (No 3) [2023] FCA 251, and earlier decisions in the same proceedings, clarifying the current Australian position as to priorities between creditors of successive trustees.

Key takeaways

This week’s TGIF considers a recent decision in Re HRL Limited (in liq) & Anor [2022] VSC 693, in which the Court approved a success fee in addition to the liquidators’ remuneration calculated by the application of a time-based costing method.

Key takeaways

This week’s TGIF considers a recent case where the Supreme Court of Queensland rejected a director’s application to access an executory contract of sale entered into by receivers and managers on the basis it was not a ‘financial record’

Key Takeaways

This week’s TGIF looks at the decision of the Federal Court of Australia in Donoghue v Russells (A Firm)[2021] FCA 798 in which Mr Donoghue appealed a decision to make a sequestration order which was premised on him ‘carrying on business in Australia' for the purpose of section 43(1)(b)(iii) of the Bankruptcy Act 1966 (Cth) (Act).

Key Takeaways

This week’s TGIF considers an application to the Federal Court for the private hearing of a public examination where separate criminal proceedings were also on foot.

Key takeaways