Insolvency litigation witnessed intriguing developments across multiple aspects in Hong Kong in 2023, ranging from the court’s updated Practice Direction on Bankruptcy and Winding-Up Proceedings to on-going debate surrounding the interplay between insolvency proceedings and arbitration clauses. In this Legal Update, we examine major developments that unfolded. The key takeaways are: 1.

Investing in or acquiring distressed assets can be a lucrative investment strategy for those with a healthy risk appetite and a roadmap for sourcing and evaluating quality assets.

Following a steep run-up in crypto asset prices and valuations of crypto-adjacent businesses in the last two years, there has been a sharp increase in companies and assets in the space looking at deeply distressed valuations, liquidity crunches or formal insolvency or bankruptcy proceedings.

Although it’s inaccurate to say that the Chinese character for “crisis” combines the characters for danger and opportunity, the thought has resonated since President Kennedy repeatedly used this trope in his presidential campaign speeches.

In its recent consultation (“Managing the failure of systematic Digital Settlement Asset (including stablecoin) firms”), the Government has proposed that one of two special administration regimes (SARs) which currently apply to certain financial institutions (the Financial Market Infrastructure Special Administration Regime (FMI SAR) or the Payment and E-Money Special Administ

There are today at least 2,352 different types of cryptocurrencies being traded on various exchanges¹. As legislators, regulators, financial institutions, and other businesses have been seeking to understand the opportunities and risk presented by cryptocurrencies, smart contracts, and other fast-moving Fintech developments since the launch of Bitcoin around 10 years ago, on 18 November 2019 the UK Jurisdiction Taskforce of the Lawtech Delivery Panel published a Legal Statement² in relation to cryptoassets and smart contracts, following a period of public con

Since China opened its doors to foreign investors around forty years ago, it has been a top recipient for international direct investments. Despite the gradual slowdown of the country’s overall economic growth, foreign interest in China continues to be strong. After a slight decline in 2016, foreign direct investment increased again by 3% to US$134.97 billion in 2018.

With the release of its much anticipated National Innovation and Science Agenda (the NISA), the Federal Government has committed more than $1 billion over the next four years to turning around Australia’s innovation performance.  

Australia’s poor record in translating research to commercial products and services is well known. We rank last amongst OECD countries for collaboration on innovation between industry and higher education and public research institutions.

The Federal Communications Commission recently adopted an order suspending “on an interim basis” its special access pricing flexibility rules.1 The Order states that parties adversely affected by the suspension may seek relief through the forbearance process, and the Commission promised to issue a mandatory data request within 60 days, which will help it subsequently conduct a detailed market analysis of the special access market. The two Republican Commissioners, Robert McDowell and Ajit Pai, dissented.