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).
It is a familiar scenario: a company is on the verge of bankruptcy, bound by the terms of a collective bargaining agreement (CBA), and unable to negotiate a new agreement. However, this time, an analysis of this distressed scenario prompted a new question: does it matter if the CBA is already expired, i.e., does the Bankruptcy Code distinguish between a CBA that expires pre-petition versus one that has not lapsed?