The Hong Kong Court of Appeal has confirmed that the court should respect the effect of an exclusive jurisdiction clause in bankruptcy proceedings, just as it does in ordinary civil actions. To do otherwise, it said, it would be illogical.

Die fundamentalen Spannungen, die der Ukraine-Krieg in den Energiemärkten verursacht, hinterlassen bereits jetzt tiefe Spuren bei Industrie und Privathaushalten. Vor allem bei besonders energieintensiven Industrien und Betrieben zeichnen sich bereits erste Produktionsdrosselungen, Produktionsstopps und sogar Insolvenzen ab. So haben jüngst Hersteller von energieintensiven Produkten wie Dünger, Kohlensäure und AdBlue die Produktion gedrosselt oder gleich ganz eingestellt. Mit Görtz und Hakle mussten zudem bereits zwei Unternehmen wegen steigender Energiekosten Insolvenz anmelden.

Since 1 October 2022, the Singapore International Commercial Court now has jurisdiction to hear cross-border restructuring and insolvency matters. In addition, foreign lawyers may be appointed to make submissions in restructuring and insolvency proceedings in the SICC. Lawyers may even enter into conditional fee agreements with their clients for selected proceedings provided that certain safeguards are met.

The Ontario Superior Court of Justice’s decision in Carillion Canada Inc. clarifies how the principles in Montréal (City) v. Deloitte Restructuring Inc. (Montréal) should be applied to contingent obligations that are only quantified after the debtor company files for creditor protection.

The Supreme Court’s decision in BTI v Sequana & Others represents the most significant ruling on the duties of directors of distressed companies of the past 30 years.

This Supreme Court decision considers the balancing exercise which directors are required to carry out between the respective interests of creditors and shareholders when a company is in financial distress.

This note summarises the key points from the ruling and the practical effect of this decision.

How do you improve the image of company voluntary arrangements? Start by reforming the voting rules.

The U.S. is one of the easiest jurisdictions in the world in which to do business. Regulatory barriers are generally low, establishing a branch or business entity is quick and easy, labor and employment laws are much more employer-friendly than in most other developed economies, and the legal system is well-developed and transparent. However, there are certain barriers to entry and challenges to doing business that should be taken into account before investing or establishing operations in the U.S.

In the receivership proceedings of Distinct Infrastructure Group Inc.

Nostrum Oil & Gas PLC’s scheme of arrangement under Part 26 of the Companies Act 2006 (the “Scheme”) was sanctioned on 26 August 2022, with the “scheme effective date” occurring on 31 August 2022.

Directors who oppose company windings up with little more than a hope that a restructuring proposal may bear fruit may have to weigh their actions carefully going forward, following a recent decision by the Hong Kong Companies Court.