Preparation of financial statements and corporate income tax, recommencement of time periods, remote trials, gradual return to workplaces, insolvency proceedings and compliance with criminal law

(This article was published in the May 2020 Issue of Hong Kong Lawyer: http://www.hk-lawyer.org/sites/default/files/e-magazines/HKL-MAY-2020/viewer/desktop/index.html?doc=917CC81E9107138E6C05E7B46F3C9397#page/30)

(本文章发表于2020年5月的《香港律师》杂志上：http://www.hk-lawyer.org/sites/default/files/e-magazines/HKL-MAY-2020/viewer/desktop/index.html?doc=917CC81E9107138E6C05E7B46F3C9397#page/34)

法庭该如何处理就仅基于指称债务（其为某仲裁条款之标的事项）而提出的清盘呈请呢？仲裁条款与清盘呈请之间的相互作用，导致近期普通法司法管辖区中出现互相矛盾的判决。尽管普遍接受的是，清盘法律程序不具可仲裁性，因此不存在因仲裁而自动、强制性或非酌情地搁置对清盘法律程序，但当以酌情权决定涉及仲裁条款的清盘法律程序应否予以搁置或撤销时，不同普通法司法管辖区法院却采纳了不同的方案。具体而言，该等不同方案是：

One of the largest bankruptcy orders ever made in the English courts (in the region of £870 million) has been set aside to allow a creditors’ meeting to take place in order to consider an individual voluntary arrangement. In (1)Gertner (2) Laser Trust v CFL Finance Ltd [2020] EWHC 1241 (Ch), Mr Justice Marcus Smith has held that unless a breach of the good faith rule can be established, it is inappropriate for the court to refuse an application supported by a majority of creditors to stay a bankruptcy petition.

2020 ha sido un año atípico. La alerta sanitaria mundial provocada por la expansión del COVID-19 y la consecuente declaración del estado de alarma en España en marzo de 2020 llevaron a una vorágine legislativa sin precedentes. En este contexto, las empresas se encuentran inmersas en un escenario incierto en el que la toma de decisiones juega un papel clave para la viabilidad futura del negocio.

I. Delhi HC: If the original contract in entirety is put to an end, the arbitration clause, which is a part of it, also perishes along with it The Hon’ble High Court of Delhi (“DHC”) has in its judgement dated October 22, 2020 (“Judgement”) in the matter of Sanjiv Prakash v. Seema Kukreja and Others [ARB. Pet. 4/2020], held that if the contract is superseded by another, the arbitration clause, being a component/part of the earlier contract, falls with it.

This summer’s landmark Supreme Court decision in Michael J Lonsdale (Electrical) Ltd v Bresco Electrical Services Ltd (in Liquidation) [2020] UKSC 25 (“Bresco”) would have doubtless been interesting news for Insolvency Practitioners (“IPs”) engaged in the construction sector.

The English courts are known for being pro-arbitration. In the recent case of Riverrock Securities Limited v International Bank of St Petersburg (Joint Stock Company) [2020] EWHC 2483 (Comm) the English High Court has granted an anti-suit injunction in relation to claims being made in foreign bankruptcy proceedings, where the underlying agreements included arbitration provisions with a London seat.

The parties

In Riverrock Securities Limited v International Bank of St Petersburg (Joint Stock Company) [2020] EWHC 2483 (Comm) the High Court granted Riverrock Securities Limited (“RSL”) an interim anti-suit injunction against bankruptcy proceedings brought against RSL by the receiver of the International Bank of St Petersburg (“IBSP”) (the Bankruptcy Proceedings).

Perseverance, dear my lord Keeps honour bright: to have done, is to hang Quite out of fashion, like a rusty mail In monumental mockery William Shakespeare, Troilus and Cressida

Styles & Wood (In Administration) v GE CIF Trustees (unreported) (County Court at Central London)