Christopher J Howard, Sullivan & Cromwell LLP

This is an extract from the third edition of GRR's The Art of the Ad Hoc. The whole publication is available here.

Introduction

Kate Colman, Sarah Levin and Ryan Al-Hakim, Milbank LLP

This is an extract from the third edition of GRR's The Art of the Ad Hoc. The whole publication is available here.

Introduction

Yen Sum and Hugo Bowkett, Latham & Watkins LLP

This is an extract from the third edition of GRR's The Art of the Ad Hoc. The whole publication is available here.

Introduction

David Wallace and Jack Isaacs, Latham & Watkins LLP

This is an extract from the third edition of GRR's The Art of the Ad Hoc. The whole publication is available here.

Introduction

Background

Houst Ltd (“the Company”) is a property management company which specialises in short-term holiday rentals through an online platform. It is an SME (small or medium-sized enterprise) with total liabilities of approximately £10 million at stake. The Company became both cashflow and balance sheet insolvent having experienced financial difficulty during the Covid pandemic and this resulted in creditors having threatened winding-up petitions.

The Insolvency Service recently published a consultation with respect to the proposed implementation of the United Nations Commission on International Trade Law ("UNCITRAL") Model Law on Recognition and Enforcement of Insolvency-Related Judgments, which concerns cross-border recognition of judgments associated with insolvency proceedings, an

Summary

The Hong Kong Court and the US Bankruptcy Court have made conflicting comments regarding the discharge of New York law-governed debt by a foreign scheme of arrangement, where that scheme is the subject of recognition under Chapter 15 of the US Bankruptcy Code.

Mani Gupta, Aman Choudhary and Saumya Upadhyay, Sarthak Advocates & Solicitors

This is an extract from the 2023 edition of GRR's The Asia-Pacific Restructuring Review. The whole publication is available here.

In summary

On 30 August 2022, the Hong Kong Court of Appeal overturned the Court of First Instance's decision in the case of Guy Kwok-Hung Lam v Tor Asia Credit Master Fund LP and held that a creditor's bankruptcy petition presented in Hong Kong should not be allowed to proceed where the petitioned debt was disputed and arose from an agreement with an exclusive jurisdiction clause in favour of a foreign court.

Heidi Chui, Stevenson, Wong & Co

This is an extract from the 2023 edition of GRR's The Asia-Pacific Restructuring Review. The whole publication is available here.

In summary