In a recent judgment, the Hong Kong Court reiterated the principles outlined in Kam Leung Sui Kwan v. Kam Kwan Lai [2015] 18 HKCFAR 501 (Yung Kee), the case concerning the famous roastgoose restaurant in the heart of Hong Kong's Central district, when determining whether to exercise its discretion to wind up a foreign-incorporated company. In this case, the court also refused to grant a stay of the petition in favor of arbitration.
Florida escape
The Singapore High Court has recently granted recognition to Hong Kong liquidation proceedings and liquidators for the first time under Singapore's enactment of the United Nations Commission on International Trade Law Model Law on Cross Border Insolvency (the model law).
Does an arbitration agreement protect a
debtor from the threat of liquidation?
27 July 2020
In several Commonwealth jurisdictions, the corporate legislation allows creditors to petition a court to order the winding up of a debtor in circumstances where that debtor is unable to pay its debts as they fall due. Such legislation generally presumes that the debtor is insolvent if it has failed to comply with a statutory notice requiring the debtor to pay a certain debt within a given period of time (a statutory demand).
Real Estate Quarterly
Summer 2020
Contents
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Hogan Lovells Publications | 06 July 2020
Contracts and Insolvency – a transformational change
New statutory provisions retrospectively change the way many existing and future contracts work. Businesses urgently need to look afresh not just at supply arrangements but also many other significant transactions of which the supply of goods or services forms part.
Die anstehende Marktkonsolidierung birgt fusionskontrollrechtliche Herausforderungen
Die COVID-19-Pandemie ist schon lange nicht mehr nur eine Gesundheitskrise, sondern hat sich zu einer globalen Wirtschaftskrise entwickelt, die viele Unternehmen in massive wirtschaftliche Schwierigkeiten bringt. Erwartet wird eine Konsolidierung, bei der finanziell angeschlagene oder insolvente Unternehmen übernommen werden. Auch der Präsident des Bundeskartellamtes, Andreas Mundt, hält eine Übernahmewelle in Folge der Corona-Krise für ein mögliches Szenario.
In this article we consider how the current challenging environment is impacting M&A in the insurance sector
We are living in volatile times. As a consequence of the COVID-19 virus, our equity and high-yield markets have witnessed large swings, making it difficult to value assets. Uncertainty over the timing and extent of the recovery has also made it difficult to value income streams. Moreover, debt financing has become more challenging. All of these factors are contributing to a challenging environment for M&A.
Although the challenges brought by the COVID-19 pandemic have, and continue to, put exceptional pressure on supply chains, the reality is that the insolvency of a business partner is a risk even in normal times. When that business partner is on the other side of pending arbitration proceedings, questions arise as to how the insolvency affects the substantive claim as well as the underlying procedure.
Hogan Lovells Publications | 15 June 2020
Navigating distress and insolvency in the oil and gas industry
Following the success of our three-part webinar series produced together with Houlihan Lokey in Spring 2020, we have developed reports summarizing how companies and investors can better navigate distress and insolvency in the oil and gas industry.