Most companies do not own all of the intellectual property (IP) rights that their businesses rely on. It is not uncommon for some portion of a company’s IP rights to be in-licensed from other persons or entities under a license agreement. In such cases, the licensee has contractual rights to use the IP that is the subject of an in-license but not full ownership of such IP. In the day-to-day operations of a company, the distinction between owned IP rights and in-licensed IP rights can easily get lost.

On 26 June 2015, Vietnam loosened foreign ownership limits (FOL) in public companies by the adoption of Decree 60/2015 (Decree 60).

The Court of Chancery issues a liberal ruling on creditor derivative standing and more obsequies for the “zone of insolvency.” 

We have previously reported that the Official Receiver retains its entitlement to ad valorem fees on the conversion of a compulsory liquidation  to a creditors’ voluntary winding-up (CVL).

It is trite to observe that issues related to the insolvency of a company are not arbitrable. However, the generality of this broad proposition can be misleading. In this the first of two articles on the arbitrability of claims, we look at how a court may approach a winding up petition in the face of a claim that the purported debt on which the petition is based relates to a dispute that is to be arbitrated.

The court provides guidance on liability if a subsidiary goes bankrupt because of the misconduct and careless management of its parent company.

Over the last few years, employees have increasingly sought to hold the parent companies of their employers liable for the subsidiaries’ actions by trying to demonstrate that the parent entity is the employee’s co-employer, i.e., that the employee has two employers: the company that hired him or her and its parent company.

To demonstrate this co-employment situation, the employee must prove either that

The new law extends the grounds for shareholders’ liability and invalidation of transactions.

On 26 March 2014, the new Rehabilitation and Bankruptcy Law (the New Law) took effect in Kazakhstan. The New Law supersedes the Bankruptcy Law adopted in 1997 (the Old Law).

On a recent Mayer Brown JSM application (on behalf  of the Liquidators of one of the Lehman Brothers  entities) to reduce and expunge proofs of debt, the  Hong Kong High Court has ruled that creditors who  receive an overpayment of dividends due in respect of  a proof of debt which has been “improperly  admitted” (rule 96, Companies Winding-Up Rules)  must give credit for those overpayments before  receiving further dividends in the liquidation (Re  Lehman Brothers Commercial Corp Asia Ltd (“LBCCA”) [2014] HKEC 849) (“Proof Appl

The theory of universality in insolvency, along with globalisation, has gained much traction across many jurisdictions in recent years. Briefly, the universality theory proposes that an insolvency proceeding has worldwide effect over all the assets of the insolvent company, wherever they may be.

The Third Party (Rights Against Insurers) Ordinance Cap 273 (TPRAI) in Hong Kong allows third parties to claim against the wrongdoer’s liability  insurer in the event of insolvency. The Supreme Court of New Zealand (the country’s highest court)  found in BFSL 2007 Ltd (in liquidation) v. Steigrad [2013] NZSC 156 (known as the Bridgecorp case)  that under the equivalent statutory provision in New Zealand, payment of defence costs do not  reduce the limit of indemnity.