El Tribunal Supremo acepta que la ausencia de entendimiento entre los socios pueda considerarse un motivo económico válido en las operaciones de reestructuración empresarial cuando aquéllos puedan probar que sus discrepancias en cuanto a la organización empresarial condicionan la viabilidad de la empresa.

1. Tema objeto de controversia

Moody's announced in October 2014 that the detainment of Agile Property Holdings' chairman, Chen Zhoulin by government authorities was credit negative, in Moody's view, "similar incidents would adversely affect developers' borrowing costs and/or their access to offshore funding". The events that have unfolded since show that Moody's were right on the money.

Introduction

Gaining access to development land in the PRC has often been linked to government connections and dubious business practices. However, a number of investigations into the allegedly corrupt activities of high-level real estate executives in China have recently taken place.

With APCOA Parking, the English High Court sets out the latest line of authority in the increasing use of schemes of arrangement by foreign companies.

This case, APCOA Parking (UK) Limited & Ors [2014] EWHC 997 (Ch), presents two novel aspects: