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A recent chambers decision holding that gross overriding royalties (“GOR”) can be vested off in a reverse vesting order (“RVO”) is on its way up to the Court of Appeal of Alberta (the “ABCA”). The ABCA has granted leave to appeal Invico Diversified Income Limited Partnership v NewGrange Energy Inc, 2024 ABKB 214 (“Invico”).

The Chambers Decision

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#1: Artificial Intelligence

The impact of artificial intelligence on the legal profession was a hot topic in 2023, with the English judiciary receiving guidance on the use of the technology. Debate on the role and regulation of AI is likely to continue throughout 2024, particularly as more specific applications are developed and demonstrated.

Recent teachings of the Supreme Court of Canada court in Canada v Canada North Group Inc., 2021 SCC 30 [Canada North] had confirmed that the Companies’ Creditors Arrangement Act (‘CCAA’) courts could grant super-priority charges (e.g. interim financing, administration charge, or directors’ and officers’ charges) ranking in priority to s.

Close economic ties and interdependence between the US and Canada have been bolstered by free trade policies and intensified global competition, paving the way for continued opportunities for US businesses to tap into the Canadian market. These opportunities have resulted in an active cross-border lending market. In light of this, US lenders who are lending into Canada may encounter, and should be aware of, Canadian-specific legal issues and considerations.

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。

Introduction

In the latest judgment handed down by the Hong Kong Court of Final Appeal in Re Guy Kwok-Hung Lam [2023] HKCFA 9, the Court of Final Appeal clarified the approach to winding up and bankruptcy petitions where the agreement from which the disputed petition debt arose contains an exclusive jurisdiction clause (“EJC”).

Facts

簡介

最近在Re Guy Kwok-Hung Lam [2023] HKCFA 9一案中,香港終審法院澄清,如果受爭議的呈請債務所涉及的協議載有專屬司法管轄權條款(「專屬條款」),法院應如何處理清盤及破產呈請。

案情

上訴人於2017年與CP Global Inc(「公司」)及答辯人訂立了一份信貸及擔保協議(「信貸協議」)。據此,上訴人向該公司提供定期貸款,答辯人就該公司結欠上訴人的所有款項提供個人擔保。信貸協議載有專屬條款,就該協議所產生或與之有關的所有法律程序賦予紐約法院專屬司法管轄權。

於2020年,上訴人認為發生了信貸協議所指的違約事件,故要求答辯人支付信貸協議項下的未償還本金及利息。答辯人未有按上訴人的要求還款,因此上訴人在香港針對答辯人展開破產法律程序。另一方面,答辯人在紐約提起訴訟,請求法院求宣告並無發生信貸協議下的違約事件。

答辯人反對在香港提出破產呈請的主要理由之一,是專屬條款規定上訴人須首先在紐約法院就雙方爭議進行訴訟,然後才可在香港展開破產程序。