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After last year’s significant reforms to Australia’s insolvency framework, the Government has demonstrated a further commitment to simplifying and streamlining insolvency law to allow viable businesses that encounter economic challenges to restructure and continue trading.

This commitment is demonstrated by the Government continuing to examine ways to improve Australia's insolvency laws, including consulting on options to:

Introduction

The recent decision by the Hong Kong* court in Re Ando Credit Ltd [2020] HKCFI 2775 marks its first appointment of provisional liquidators[1] over a Hong Kong company with the express purpose of allowing the liquidators to seek recognition in China Mainland.

引言

香港法院最近在Re Ando Credit Ltd [2020] HKCFI 2775一案中,首次批准一家香港公司任命临时清盘人[1],并明确旨在允许该临时清盘人向中国内地法院寻求内地法律的承认和执行。

引言

香港法院最近在Re Ando Credit Ltd [2020] HKCFI 2775一案中,首次批准一家香港公司任命临时清盘人[1],并明确旨在允许该临时清盘人向中国内地法院寻求内地法律的承认和执行。

One difficulty encountered by creditors and trustees in bankruptcy is the use of one or more aliases by a bankrupt. Whether it is an innocent use of a nickname or an attempt to conceal one's identity, the use of an alias can often create problems for creditors seeking to pursue debts and for trustees seeking to recover assets held by a bankrupt.

How does it happen?

对于《最高人民法院关于适用〈中华人民共和国民法典〉有关担保制度的解释》(下称“《民法典担保解释》新规”)对金融资管业务的影响,我们在上篇及中篇中从担保物权受托持有、增信文件性质、上市公司对外担保、担保物权登记、抵押预告登记等角度进行了详细探析。本篇我们将从资产收益权回购交易、仲裁与申请实现担保物权程序、担保与破产衔接角度,着重介绍新规的修订及对金融资管业务的影响。择重点概括如下:

一、新规明确特定资产或资产收益权转让及回购交易中让与担保规则的处理方法

引言:近期某集团破产清算案中,关于债务人与境外基金债权人之间因“维好协议”引发的纠纷事项,上海金融法院作出裁定,对境外债权人在香港特别行政区取得的对该债务人的胜诉判决予以认可,鉴此该境外债权人的债权有望在破产程序中获得确认。而其他破产案件中,管理人对境外投资人基于“维好协议”的债权作出不予确认的决定。由此,关于“维好协议”项下的债权人应如何主张权利、在“维好提供方”破产的情况下可否享有破产债权人地位并参与破产程序等问题众说纷纭。为此,本文将从“维好协议”的性质入手,在境内“维好提供方”破产语境下,阐述“维好协议”项下债权人可以主张权利的路径,并分析各救济途径在司法实践中的可行性。

一、“维好协议”的性质分析

(一)何谓“维好协议”

A recent decision of the Federal Court has confirmed that a secured creditor who consents to employee creditors being paid out of the charged asset pool is entitled to be subrogated to the priority rights of those employee creditors.

1.1 Facts

Australia and New Zealand Banking Group Limited (ANZ) was the only secured creditor of Akron Roads Pty Ltd (Akron), holding fixed and floating charges over all of Akron’s undertakings and assets. In 2010, liquidators were appointed to Akron.

Following our previous alert here on Justice Middleton’s decision in Wells Fargo Trust Company, National Association (trustee) v VB Leaseco Pty Ltd (Administrators Appointed),[1] the administra