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In a recent decision, Deputy High Court Judge Gary CC Lam dismissed an application to strike out an unfair preference claim brought by the liquidators of RZ3262019 Limited. The judgment provides a significant analysis of issue estoppel, particularly on the novel question of how an issue is characterised when a foreign court has applied a different, higher standard of proof.

Background

2025年8月11日,香港高等法院法官陈静芬对华南城控股有限公司(以下简称“华南城”)下达清盘令。根据路透社报道,华南城是自2021年中国房地产行业陷入债务危机以来,首家在香港被清盘的国有背景房地产开发商。

背景

华南城及其子公司集团(以下简称“集团公司”)是在内地8个主要城市以品牌名称“华南城”运营大型综合物流与交易中心的房地产开发商。

此前,香港法院已两次延期华南城清盘申请的聆讯,然而,香港法院拒绝了本案聆讯的第三次延期请求,并基于以下理由,勒令华南城即时清盘:

On 11 August 2025, the Honourable Madam Justice Linda Chan made a winding up order against China South City Holdings Ltd (the “Company”). According to Reuters, this is the first state-backed property developer to be wound up in Hong Kong since the Chinese property sector tipped into debt crisis in 2021.

Background

The Company and its group of subsidiaries (the “Group”) is a real estate developer and operates a large scale integrated logistics and trade centre in 8 major cities in the Mainland under the brand name “華南城”.

In the recent high-profile decision of Re: Li Yonghong[2025] HKCFI 3307, the Honourable Madam Justice Linda Chan made a bankruptcy order against Mr. Li Yonghong — a businessman best known for his prior ownership of AC Milan. The judgment offers important takeaways for bankruptcy and insolvency practitioners on, inter alia, the resolution of inaccuracies or defects in statutory demands and petitions.

Background

Notwithstanding that the requisite statutory majority was obtained in the relevant creditors’ scheme meeting, the Hong Kong Companies Court refused to sanction a scheme of arrangement propounded by a company that professed to be insolvent in a recent judgment [2024] HKCFI 2216.

It is being reported that the Latvian State Security Service (the VDD) has discontinued a criminal investigation started in November 2023 into the sale of a helicopter by a company indirectly co-owned by the designated person Petr Aven .

More than 75% of the U.S. population lives in states that have legalized cannabis for adult and/or medical use.

Pursuant to a 2022 directive from President Joe Biden, a 2023 recommendation of the U.S. Department of Health and Human Services, and a scientific review released in January supporting the HHS's recommendation, the U.S. Drug Enforcement Administration is now evaluating whether to reclassify cannabis as a Schedule III drug.

In contrast with a majority of bankruptcy courts that routinely dismiss cannabis-related cases for perceived violations of the Controlled Substances Act (CSA), the U.S. Bankruptcy Court for the Central District of California in the recent opinionIn re Hacienda, No. 2:22-BK-15163-NB, (Bankr. C.D. Cal. July 11, 2023), refused to conform to the same historical standard. Instead, the Bankruptcy Court struck down the U.S. trustee’s motion to dismiss not once but twice in favor of confirming a marijuana business’ Chapter 11 plan of reorganization.

Background

In the recent case of Re Avanti Communications Limited (in administration) (Re Avanti), the court considered the nature of fixed and floating charges. Whether a charge is fixed or floating has implications for both lenders and administrators in terms of determining to what extent a chargor can recover from the charged assets and to what extent a borrower can deal with its assets.

Background of case:

简介

最近在Re Guy Kwok-Hung Lam [2023] HKCFA 9一案中,香港终审法院澄清,如果受争议的呈请债务所涉及的协议载有专属司法管辖权条款(「专属条款」),法院应如何处理清盘及破产呈请。

案情

上诉人于2017年与CP Global Inc(「该公司」)及答辩人订立了一份信贷及担保协议(「信贷协议」)。据此,上诉人向该公司提供定期贷款,答辩人就该公司结欠上诉人的所有款项提供个人担保。信贷协议载有专属条款,就该协议所产生或与之有关的所有法律程序赋予纽约法院专属司法管辖权。

于2020年,上诉人认为发生了信贷协议所指的违约事件,故要求答辩人支付信贷协议项下的未偿还本金及利息。答辩人未有按上诉人的要求还款,因此上诉人在香港针对答辩人展开破产法律程序。另一方面,答辩人在纽约提起诉讼,请求法院求宣告并无发生信贷协议下的违约事件。

答辩人反对在香港提出破产呈请的主要理由之一,是专属条款规定上诉人须首先在纽约法院就双方争议进行诉讼,然后才可在香港展开破产程序。