Hong Kong, Capital Markets, Company & Commercial, Insolvency & Restructuring, Litigation, Reynolds Porter Chamberlain, Due diligence, Initial public offerings
Hong Kong, Insolvency & Restructuring, Litigation, Reynolds Porter Chamberlain, Court of First Instance (Hong Kong)
Hong Kong, Compliance Management, Construction, Insolvency & Restructuring, Litigation, Reynolds Porter Chamberlain, Bankruptcy, Contempt of court, Costs, Court of First Instance (Hong Kong)
- Introduction
- Recent case
- Court's obiter comments
- Comment
Introduction
Hong Kong, Insolvency & Restructuring, Litigation, RPC, Bankruptcy, Breach of contract, Negligence, Deloitte, Trustee, Court of Appeal of England & Wales, Court of Final Appeal (Hong Kong)
Hong Kong, Insolvency & Restructuring, Litigation, RPC, Discovery, Ex parte, Liquidation, Writ, Liquidator (law), Deloitte, Singapore High Court
From 1 April 2016, conditional fee agreements (CFA), after the event premiums and success fees will no longer be recoverable in insolvency cases.
The legislative change is set to have the biggest impact on lower-value insolvency cases (damages less than £500,000 and legal costs lower than £200,000).
On April 15, 2016, the IRS released a generic legal advice memorandum (GLAM 2016-001) (the “April GLAM”) addressing the impact of so-called “bad boy” guarantees (also known as nonrecourse carve-out guarantees) on the characterization of underlying partnership debt as recourse vs. nonrecourse under Section 752 of the Internal Revenue Code.