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Agree to disagree - does winding-up or arbitration take precedence in insolvency?
2023-09-04

Three recent Hong Kong first instance court decisions have left undecided the question of whether a winding-up petition will trump an agreement to arbitrate when it comes to a winding-up and particularly in the context of cross-claims. A Court of Final Appeal decision this spring had seemed to provide pointers that the parties' agreement would be upheld but the issue – particularly when it comes to unmeritorious and late arbitration applications – is dividing the courts.

Filed under:
Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, Hogan Lovells
Authors:
James Kwan , Byron Phillips , Jonathan Leitch , Nigel Sharman
Location:
Hong Kong
Firm:
Hogan Lovells
View Original Article
Subchapter V Trustee’s Facilitation Role (Part 4)—A CITY OF DETROIT MODEL
2023-08-29

“(b) Duties.—The [Subchapter V] trustee shall— . . . (7)facilitatethe development of a consensual plan of reorganization.”

  • From 11 U.S.C § 1183(b)(7)(emphasis added).

Facilitation is, by statute, a duty of every Subchapter V trustee—something a Subchapter V trustee must do. But the nature and boundaries of the facilitation role have always been fuzzy and, therefore, misunderstood.

My purpose in this multi-part series is to provide observations on the facilitation role.

Filed under:
USA, Nebraska, Arbitration & ADR, Insolvency & Restructuring, Litigation, Koley Jessen PC, Mediation
Authors:
Donald L. Swanson
Location:
USA
Firm:
Koley Jessen PC
View Original Article
Arbitration and insolvency: Australian court determines when arbitration costs orders can be recoverable against a company in administration
2023-08-04

The Federal Court of Australia recently determined an application brought by the administrators of a company in voluntary administration seeking judicial guidance on how to deal with claims for costs and interests resulting from two prior arbitrations. The key issue was whether the costs and interests awarded in the previous arbitrations were admissible to proof in the administration of the company, having regard to the fact that the relevant arbitral awards were made after the appointment of administrators.

The Court made a distinction between the two arbitrations as follows:

Filed under:
Australia, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, International Arbitration Act 1974 (Australia), UNCITRAL, Federal Court of Australia
Authors:
Leon Chung , Guillermo García-Perrote , Inigo Kwan-Parsons
Location:
Australia
Firm:
Herbert Smith Freehills LLP
View Original Article
Illinois Bankruptcy Court: Whether Dispute Is Core or Non-Core Not "Bright Line" in Determining Enforceability of Arbitration Clause
2023-07-26

Whether a dispute that is subject to arbitration can or must be referred to arbitration after one of the parties to a prepetition arbitration agreement files for bankruptcy has long been a source of disagreement among bankruptcy and appellate courts due to a perceived conflict between the Federal Arbitration Act and the Bankruptcy Code. The U.S. Bankruptcy Court for the Northern District of Illinois recently provided some useful guidance regarding this issue.

Filed under:
USA, Illinois, Arbitration & ADR, Insolvency & Restructuring, Litigation, Jones Day, Federal Arbitration Act 1926 (USA), US Congress, Supreme Court of the United States
Authors:
Mark G. Douglas
Location:
USA
Firm:
Jones Day
View Original Article
Hong Kong Companies Court clarifies the applicability of Re Guy Kwok Hung Lam to cases involving an arbitration clause
2023-06-12

In Simplicity & Vogue Retailing (HK) Co., Limited [2023] HKCFI 1443, the Hong Kong Companies Court (the “Court“) made a winding up order against the Company on the basis that it failed to pay security in time. In considering the Company’s opposition grounds, the Court commented that it retains discretion to wind up a company in cases involving an arbitration clause.

Filed under:
Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Arbitration clause
Authors:
Gareth Thomas , Rachael Shek , Jojo Fan , Peter Ng
Location:
Hong Kong
Firm:
Herbert Smith Freehills LLP
View Original Article
Hong Kong companies court considers impact of Re Guy Lam on arbitral disputes
2023-06-06

In the latest decision of the Hong Kong court to consider the interplay between arbitration clauses and winding-up or bankruptcy petitions, on 22 May 2023, the Hon. Linda Chan J (the Judge) made a winding-up order against Simplicity & Vogue Retailing (HK) Co. Limited (the Company) and rejected the Company’s argument that the dispute over the underlying debt should be referred to arbitration.

Filed under:
Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, Reed Smith LLP
Location:
Hong Kong
Firm:
Reed Smith LLP
View Original Article
Arbitration of insolvency disputes: The View from the Australian courts
2023-05-23

Two recent judgments from different Australian courts have considered circumstances in which insolvency disputes can (or cannot) be arbitrated in accordance with pre-existing arbitration agreements. In particular, the decisions address the following two key issues:

  • when certain insolvency claims can be arbitrated; and
  • when a third party can participate in arbitral proceedings either claiming or defending ‘through or under’ a party to the arbitration agreement.

Key takeaways

Filed under:
Australia, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Singapore International Arbitration Centre
Location:
Australia
Firm:
Herbert Smith Freehills LLP
View Original Article
Required Disclosure Of “Last Offers” By Mediating Parties (In re Genesis Global)
2023-05-09

“within three (3) business days of termination of the mediation, the Debtors shall publicly disclose the terms of the last offers extended by each of the Mediation Parties, respectively.”[Fn. 1]

Say what!?

Whoever heard of such a thing—a requirement that the “last offers” of the mediating parties be publicly disclosed?

And this requirement is in a “consensual” mediation order entered in the Genesis Global Holdco, LLC, bankruptcy.[Fn. 2]

Context

Here’s the context.[Fn. 3]

Filed under:
USA, Arbitration & ADR, Insolvency & Restructuring, Koley Jessen PC, Mediation, FTX
Authors:
Donald L. Swanson
Location:
USA
Firm:
Koley Jessen PC
View Original Article
Mining in the Courts, Vol. XIII
2023-03-23

La 13e édition annuelle de la publication Mining in the Courts fournit une mise à jour complète sur les développements juridiques concernant le secteur minier (disponible en anglais seulement). Cette publication comprend un résumé sur bon nombre des causes les plus importantes, ainsi que des articles offrant un aperçu sur les tendances juridiques actuelles et les défis auxquels l’industrie devra faire face au cours de la prochaine année.

Voici certains des sujets qui y sont abordés :

Filed under:
Canada, Global, Arbitration & ADR, Environment & Climate Change, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP
Location:
Canada, Global
Firm:
McCarthy Tétrault LLP
View Original Article
The US-Israel legal review 2022
2023-03-20

A GLOBAL LEGAL MEDIA & NISHLIS LEGAL MARKETING PUBLICATION THE US-ISRAEL LEGAL REVIEW 2022 IN ASSOCIATION WITH: Israel’s Unicorn Success Story SNNOVATION The US-Israel Legal Review 2022 1 Contents THE US-ISRAEL LEGAL REVIEW 2022 2 WELCOME FROM THE PUBLISHERS Global Legal Media and Nishlis Legal Marketing 4 ECONOMIC HEADWINDS, A HOT WAR AND A TRADE WAR: THE IMPACT ON ISRAEL’S COMPANIES With rising interest rates, rising inflation and reduced growth forecasts, how has that reality been faced by corporate clients and start-ups? Arnon, Tadmor-Levy provide some answers.

Filed under:
Global, Israel, USA, New York, Arbitration & ADR, Banking, Capital Markets, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, IT & Data Protection, Litigation, Patents, Tax, Trade & Customs, Foreign direct investment, Corporate governance, Blockchain, Private equity, Patent infringement, Big data, Venture capital, Mediation, Fintech, Due diligence, Artificial intelligence, Cryptocurrency, SIPP, ESG, Personal data, Gaming, Cybersecurity, SPAC, Health Insurance Portability and Accountability Act 1996 (USA), GDPR, Federal Arbitration Act 1926 (USA), California Consumer Privacy Act 2018 (USA), US Securities and Exchange Commission, NASDAQ, International Centre for Settlement of Investment Disputes, Committee on Foreign Investment in the United States, ChatGPT, Silicon Valley Bank
Location:
Global, Israel, USA
View Original Article

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