维好协议还好吗? 前 言 维好协议（KEEPWELL DEED）通常由在中国 1 注册成立的 母 公司签 署，为其 境 外 子 公司的融 资 进 行增信（CREDIT ENHANCEMENT）（见图表），最初常见于债券市场，近年 来也经常出现在贷款交易中。 提供维好承诺的母公司承诺维持其境外债务人子公司的财 务健康，以增强债权人对债务人的信心。 维 好协议 通常包含的承诺有：要求 维 好提 供方维持境外 维好协议与保证的主要区别 维好协议和保证有以下的重要分别 : 1. 仅就本文而言，“中国”或“中国内地”指中华人民共和国，不包括香港及澳门特别行政区和台湾。“境内”及“境外”有相应的意思。 债务人的净资产为正值、为其提供偿还债务的流动资金、 以 及保 持其对该等境 外债务人的管控 权和所有权等。其 中一些承诺或受制于取得相关中国政府部门的审批将资 金 汇出境 外的前 提 条 件，并且 维 好提 供 方必须尽最 大努 力获 得该 等审 批。除 签 署维 好协议 外，维 好 提 供 方通常 还 会 签 署股 权 购买承 诺（EQUITY INTEREST PURCHASE UNDERTAKINGS），即维好提供方承诺购买其境外债务人 子公司持有的若干股权，以便将资金（即购买对价）汇出境外。
The concept of an ‘insolvent trust’ is somewhat of a paradox. A trust is not a separate legal entity in the way that companies are and, as such, cannot be insolvent in the technical sense. Trustees legally own assets in a trust for the benefit of beneficiaries.
金杜合伙人苏萌律师应联合国国际贸易法委员会（UNCITRAL）邀请作为碳交易及金融领域专家，于2024年1月31日和2月1日参加在维也纳举行的联合国贸易法委员会（UNCITRAL）专家组与国际统一私法协会（UNIDROIT）工作组关于自愿碳信用（VCC）法律性质的联席会议[1]。在联席会议上，苏律师就工作报告内容参与讨论并发表观点，并就中国自愿碳市场发展状况对研究报告做出修订和补充。
In the final statistics release of this year, the Insolvency Service confirmed that there were 2,466 registered company insolvencies in November 2023 (the December figures will be released early in 2024). Not only was this 21% higher than in the previous November, but 7% higher than the figures in October 2023.
The company insolvencies in November 2023 included:
As the ‘slow crush’ of persistently high interest rates bites, businesses of all kinds are struggling and many are reaching the point of failure, as indicated by each month’s number of creditors’ voluntary liquidations (CVLs) charting higher than the same period a year prior. The latest statistics from The Insolvency Service reveal that registered company insolvencies in October 2023 were 18% higher than in the same month in 2022.
On 26 September 2023, our Insolvency and Asset Recovery team hosted a seminar explaining the emerging and developing types of disputes focussed on insolvent estate recoveries.
Divorce and Family partner Lisette Dupré and Commercial Litigation partner Elaina Bailes were among 500 lawyers from more than 50 countries who gathered for the AIJA International Young Lawyers’ Congress in Rio between 20 and 26 August. This year’s theme was rethinking the law in four dimensions, which called upon speakers to think more about how the law may develop in the next five years than simply looking at how it stands today.
Section 423 of the Insolvency Act 1986 (s423) provides for the avoidance of transactions intended to put assets out of the reach of creditors or otherwise prejudice their interests. It is one of the most effective weapons in global asset recovery scenarios and is widely used. Partner Tim Symes, associate Jack Barlow and paralegal Bruno Ponte consider the proof needed to get home on an s423 claim, consider some recent caselaw and provide examples of what a court might order if a claim is successful.
A combination of continued high prices and rising interest rates has heaped pressure on already struggling businesses through the summer of 2023. The challenging circumstances have lead to an overall rise in creditors’ voluntary liquidations (CVLs) compared to both earlier months and the previous year, though the picture borne out by the statistics is more complicated than might be expected.
Insolvency and Asset Recovery partner Tim Symes appeared on Sky News’ Business Live with Ian King as the latest government figures revealed that company and individual insolvencies in England and Wales remain close to an all time high.