Welcome to the latest edition of Corporate Update.
In cross-border civil and commercial litigation between Hong Kong and Mainland China, parties often struggle to obtain evidence located in Mainland China.
Introduction
This legal guide summarises the key differences between a ‘voluntary strike off’ and a ‘voluntary winding up’ under the Companies (Guernsey) Law, 2008 (Companies Law). Both procedures bring a company’s existence to an end, but they differ in purpose, process, timing, cost and risk. This legal guide is designed to help clients determine the most appropriate route based on their circumstances.
Voluntary strike off
In Short
Maintaining a Business Account
In Serbia, maintaining at least one business bank account is not merely a practical necessity for businesses - it is a legal obligation.
When a company is in financial distress, creditors must consider whether to place the company into a formal external administration process. If they do so, the publicity and disruption that accompany a formal appointment may worsen an already fragile situation. Conversely, if no action is taken, the company may continue to burn cash, leaving creditors with little or no prospect of recovery.
This article examines the emerging trend of U.S.-based companies with Canadian ties initiating primary insolvency proceedings in Canada and seeking recognition in the United States under Chapter 15 of the U.S. Bankruptcy Code. As described herein, this two-step strategy enables debtors to take advantage of the flexibility and efficiency of Canadian restructuring regimes, while securing key U.S. bankruptcy protections.
A Strategic Shift in Cross-Border Insolvency
Primul de acest fel în piață, studiul poartă semnătura echipei de litigii Filip & Company, subcoordonarea avocaților Alin Grapă și Eduard Maxim. Inaugurăm astfel o serie anuală pe care ovom continua consecvent ca reper constant pentru acest subiect.În cadrul materialului sunt analizate date statistice obținute prin consultarea platformelor publiceîn legătură cu sistemul judiciar din România, fiind centrat pe materia litigiilor civile, comerciale șia celor de contencios administrativ.
The Court of Appeal has handed down its judgment in DG Resources Ltd v The Commissioners for His Majesty’s Revenue and Customs, a decision that clarifies how winding‑up petitions must be served, an issue with implications for the 30,000 UK businesses using the Companies House default address for receiving official mail.
Background
DG Resources Ltd owed HMRC £1.104 million.
On 11 December 2024 HMRC presented DG Resources with a winding-up petition.
The petition came before Chief ICC Judge Briggs, who made several key findings:
The process of company liquidation involves a series of legal and administrative steps aimed at terminating the company’s legal personality, assessing its assets, and settling its liabilities. This process is conducted according to the following stages:
I. Primary Stages of Liquidation
Issuance of the Dissolution Resolution: The process begins with an official resolution to dissolve and liquidate the company, whether it is a voluntary resolution by the General Assembly (partners) or a judicial ruling issued by the competent court.