Gregg Galardi, Daniel Anderson, Matthew Czyzyk, Janice Ng, Natalie Blanc and Emily Ma, Ropes & Gray
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Juan Carlos Machorro, Carlos Olvera and Ricardo Orea, Santamarina y Steta
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Gianfranco Lotito, Cuatrecasas
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Mark Goodman and Katie Logan, Campbells
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Ken Baird, Mark Liscio, Michael Broeders, Marvin Knapp, Samantha Braunstein, Katharina Crinson, Laurent Mabilat, Ana Lóppez and Silvia Anggós, Freshfields Bruckhaus Deringer
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
John Wasty, John Riihiluoma, Lalita Vaswani and James Batten, Appleby
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
In Re Unity Group Holdings International Ltd [2022] HKCFI 3419, the Hong Kong court has for the first time sanctioned a scheme of arrangement that releases debts of third-party obligors that were guaranteed by the scheme company without requiring a deed of contribution. The Honourable Mr. Justice Harris deviated from the English law approach and ruled that a deed of contribution will no longer be necessary for the release of a principal obligor's liability that has been guaranteed by the scheme company.
A going concern
Our review of 2022 brings you right up-to-date with the latest developments in restructuring and insolvency law in Hong Kong and the mainland.
The High Court of England and Wales has recently provided welcome clarification around the nature of events of default under derivatives contracts governed by the ISDA Master Agreement, in particular in relation to whether an insolvency related event of default can be cured and so cease to be continuing. This brings to an end a long running debate around the extent to which, and for how long, a party can continue to rely on the condition precedent to payment contained in the ISDA framework documentation where the other party is subject to such an event of default.
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.