Obtaining a County Court Judgment (CCJ) is the first step in enforcing a debt against the debtor. Once a CCJ has been obtained, the judgment creditor will need to take the necessary steps to enforce their Judgment to recover the monies owed to the judgment creditor, unless the debtor pays the full judgment debt after receiving the judgment. During COVID-19, the Government has put legislation in place to protect people from being affected by the consequences of their debts.
In the landmark case of Re China Huiyuan Juice Group Limited [2020] HKCFI 2940, Mr Justice Harris recalibrated the Hong Kong winding-up jurisdiction and its application to an offshore incorporated, Hong Kong-listed entity.
In particular, the decision explains why the Hong Kong court may be unable to wind up an offshore incorporated, Hong Kong-listed company where all of the company’s operating assets are in the Mainland.
The material facts
Tamara Oppenheimer QC, Rebecca Loveridge and Samuel Rabinowitz, Fountain Court Chambers
This is an extract from the fifth edition of GIR's The Practitioner’s Guide to Global Investigations. The whole publication is available here.
36.1 Introduction
On 19 January 2021, in a plenary session of Parliament, three Statutes of material importance to economic agents doing business in Angola were approved, the publication of which in the Angolan Official Gazette is now awaited.
1. The "Law on the Legal Framework for Corporate Recovery and Insolvency" was unanimously approved.
“Survey and test prospective action before undertaking it. Before you proceed, step back and look at the big picture, lest you act rashly on raw impulse”
- Epictetus
“Your hindsight on this case, was far more accurate than his foresight”
- David Carpenter
INTRODUCTION
The StaRUG provides for a so-called stabilisation order to make it easier for companies to restructure. This is also referred to as a moratorium. We explain the requirements and consequences.
The Supreme Court’s decision in Sevilleja v Marex Financial Ltd [2020] UKSC 31 of 15 July 2020 provided much needed clarity on the scope of the rule against “reflective loss”.
On 29 January 2020, the Insolvency Service published its quarterly insolvency statistics for October to December 2020 (Q3 2020).
The issue in this case concerned the failure of a holder of a Qualifying Floating Charge (QFC) to give notice to a prior QFC holder before appointing administrators, therefore potentially calling into question the validity of the administration.