GENERAL

The Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 Gazetted

The Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 (Amendment Ordinance) was gazetted on 3 June 2016. The Amendment Ordinance aims to improve and modernize Hong Kong’s corporate winding-up regime. The Amendment Ordinance will come into effect on a appropriate date to be published in the Gazette.

Major provisions of the Amendment Ordinance include:

Welcome to the third article in this amazing series which looks at what you can do to try to extract money from a stubborn business debtor.

On March 11, 2016, Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware issued an opinion in the Energy Future Holdings bankruptcy that resolved an intercreditor dispute over $90 million in proceeds to be distributed under the plan of reorganization.

CAYMAN ISLANDS

Welcome to the second article in this amazing series which looks at what you can do to try to extract money from a stubborn business debtor.

In the first article I looked at the potential benefits and detriments of issuing a County Court Claim.  This time I will take a step back and look at what you could do prior to going to Court with your completed forms and a large cheque for the ever-growing Court fee. You can read this article here.

In times of financial turbulence, politicians, regulators and the media make the case for tighter controls of the markets.  However, with new regulatory powers coming in and the resulting extra layer of complexity that their application brings, investors have their reasons not to put their trust in regulators.  As seen with recent developments in Portugal and Italy, a number of competing motivations surround the rescue of financial institutions.  The old maxim – “Put your trust in God, but keep your powder dry” -  may be applied to describe investor sentiment in an envir

Although almost eight years have lapsed since the chapter 11 cases of Tulsa, Oklahoma-based SemCrude L.P.

I am sure many of you may be aware already that as of the 1st October 2015 the Bankruptcy Limit has increased to £5,000 whilst a Winding up Order remains the same at £750.00.

The limit debtor's can apply for a Debt Relief Order has also been increased from £15,000 to £20,000.

While there are smart ways to avoid the debt collection process, sometimes you have to hire a professional. After all, you have your business to run and dealing with delinquent accounts can be draining on your resources, time and patience. That said, not every debt collection specialist is created equal and not every company will be right for your unique business. Here are a few things you should consider when selecting a partner in the process.

Do the Research

On July 23, 2015, in an action arising from the huge TCEH chapter 11 bankruptcy, Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York issued an opinion in Delaware Trust Company v.