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    香港高等法院颁令华南城清盘
    2025-10-08

    2025年8月11日,香港高等法院法官陈静芬对华南城控股有限公司(以下简称“华南城”)下达清盘令。根据路透社报道,华南城是自2021年中国房地产行业陷入债务危机以来,首家在香港被清盘的国有背景房地产开发商。

    背景

    华南城及其子公司集团(以下简称“集团公司”)是在内地8个主要城市以品牌名称“华南城”运营大型综合物流与交易中心的房地产开发商。

    此前,香港法院已两次延期华南城清盘申请的聆讯,然而,香港法院拒绝了本案聆讯的第三次延期请求,并基于以下理由,勒令华南城即时清盘:

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Des Voeux Chambers
    Authors:
    Rachel Lam SC , Tiffany Chan , Terrence Tai , Lai Chun Ho
    Location:
    Hong Kong
    Firm:
    Des Voeux Chambers
    Practice Statement 2.0: A significant milestone for Part 26 Schemes / Part 26A Plans?
    <br>
    2025-10-07

    Introduction

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Freshfields, Companies Act 2006 (UK)
    Authors:
    Sunil Singh , Katharina Crinson , Craig Montgomery , Jack Vaughan
    Location:
    United Kingdom
    Firm:
    Freshfields
    Repossession delays in the VOEPASS Case cause substantial losses
    2025-10-07

    The collapse of Passaredo Linhas Aéreas (currently known as "VOEPASS") in the beginning of 2025 has exposed  a weakness, at the trial court level, in Brazil's legal framework for international aviation finance, revealing violations of both the Cape Town Convention and its Aircraft Protocol (together, the “CTC”) and the domestic bankruptcy law. VOEPASS is a regional airline that operated with ten leased ATRs aircraft in early 2025.

    Filed under:
    Brazil, Aviation, Insolvency & Restructuring, Litigation, Basch & Rameh Advogados Associados
    Authors:
    Renata Duarte Iezzi , Kenneth D Basch
    Location:
    Brazil
    Firm:
    Basch & Rameh Advogados Associados
    Vietnam Lifts Foreign Ownership Cap for Banking Restructuring Activities
    2025-10-07

    Developing the support scheme for banks that take over weaker banks (“Acquiring Banks”) has become a cornerstone of Vietnam’s restructuring agenda under Decision No. 689/QD-TTg on “Restructuring credit institutions in conjunction with non-performing loan resolution for 2021 – 2025” dated 8 June 2022. In this context, lawmakers have gradually equipped Acquiring Banks with stronger tools, from asset seizure rights under the Amended CsI 2025 (as discussed in Topic 7.1) to new regulation designed to mobilize foreign capital. Specifically, Decree No.

    Filed under:
    Vietnam, Banking, Insolvency & Restructuring, Indochine Counsel, State Bank of Vietnam, Banks
    Authors:
    Ngo Dang Loc
    Location:
    Vietnam
    Firm:
    Indochine Counsel
    High Court winds up China South City Holdings Ltd
    2025-10-03

    On 11 August 2025, the Honourable Madam Justice Linda Chan made a winding up order against China South City Holdings Ltd (the “Company”). According to Reuters, this is the first state-backed property developer to be wound up in Hong Kong since the Chinese property sector tipped into debt crisis in 2021.

    Background

    The Company and its group of subsidiaries (the “Group”) is a real estate developer and operates a large scale integrated logistics and trade centre in 8 major cities in the Mainland under the brand name “華南城”.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Des Voeux Chambers, China South City Holdings
    Authors:
    Rachel Lam SC , Tiffany Chan , Terrence Tai , Lai Chun Ho
    Location:
    Hong Kong
    Firm:
    Des Voeux Chambers
    İcra ve İflas Hukukunda Yeni Dönem: Cebrî İcra Kanunu Taslağı
    2025-10-03

    1932’den beri yürürlükte olan 2004 sayılı İcra ve İflas Kanunu’nun yerine, Adalet Bakanlığı tarafından hazırlanan Cebrî İcra Kanunu Taslağı, icra ve iflas hukukunda köklü yenilikler getirmektedir. İlamlı icrada istinaf süresi beklenmesi, ilamsız icrada belge şartı ve “itirazın kaldırılması” yolunun kaldırılması, kambiyo ve banka alacaklarının genel takibe tabi kılınması, ödeme emrine itiraz süresinin 2 hafta olması, haciz ve satışta süre sınırlaması, nemalandırma ve kıymet takdirinde düzenlemeler öne çıkan değişikliklerdir.

    Giriş

    Filed under:
    Turkey, Insolvency & Restructuring, Litigation, CBC Law
    Authors:
    Torehan Buyuksoy , Ömer Faruk Özdemir , Merve Yücesan
    Location:
    Turkey
    Firm:
    CBC Law
    When and Should Liquidators Enter into a Settlement Agreement
    2025-10-03

    In Yeo (liquidator), in the matter of Tuftex Carpets Pty Ltd (in liquidation) [2025] FCA 1200 the liquidators sought approval from the court to enter into a settlement agreement. The claims underlying the settlement agreement were against the former director and parent company for insolvent trading and the resulting loss.

    Key Takeaways

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Financial services, Insolvency, Corporations Act 2001 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    Administrators Granted Relief from Personal Liability and Time Extended to Register
    2025-10-03

    In Re Resource Development Group Limited (Administrators Appointed) [2025] WASC 408, the Court granted relief to the voluntary administrators of Resource Development Group Ltd (RDG) from personal liability under a loan arrangement and extended time for the registration of a related security interest.  

    Key Takeaway

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Financial services, Personal Property Securities Act 2009 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    Administrator Appointment Confirmed Despite Procedural Irregularity
    2025-10-03

    In Re Bayview Health – Matilda Bay Pharmacy Pty Ltd; ex parte Smith & Jacobs [No 2] [2025] WASC 405, the Court held that a failure to provide the 14 days’ notice of a board meeting, required by a shareholder agreement, to appoint a voluntary administrator, was a procedural irregularity that could be cured.

    Key Takeaway

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Financial services, Corporations Act 2001 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    SIAC Launches Restructuring and Insolvency Arbitration Protocol
    2025-10-01

    On 26 August 2025, the Singapore International Arbitration Centre (SIAC) introduced the SIAC Restructuring and Insolvency Arbitration Protocol (Protocol), which took effect immediately.

    Filed under:
    Singapore, Arbitration & ADR, Insolvency & Restructuring, WongPartnership – Restructuring & Insolvency, Insolvency, Singapore International Arbitration Centre
    Authors:
    Smitha Menon , Adnaan Noor , Eden Li
    Location:
    Singapore
    Firm:
    WongPartnership – Restructuring & Insolvency

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