Question
Once a Subchapter V debtor is removed from possession under § 1185(a), what happens next?
The answer to this question seems to have evolved over the few years of Subchapter V’s existence:
- from a low-power position for debtor, early-on;
- to a high-power position for debtor, in a re-thought view; and
- then back to the low-power position for debtor, when problems of the re-thought view become evident.
I’ll try to explain.
Early Answer
A recent Canadian insolvency filing could provide insight into how U.S. courts will approach Chapter 15 applications from foreign cannabis-related entities.
I en komplex juridisk kontext där anställdas rättigheter vid konkurs står i fokus, har Göta hovrätt nyligen avkunnat ett beslut som kan få djupgående konsekvenser för hur fordringar på lön och liknande ersättning hanteras i svenska konkursfall. Beslutet, som inte överklagades till Högsta domstolen, har väckt både diskussion och oro inom rättsvärlden. Denna artikel granskar närmare det kontroversiella avgörandet, dess påverkan på konkursförvaltare och anställda samt de potentiella konsekvenserna för konkursförfarandena i framtiden.
Singapore's economy is expected to see slower growth in 2023 after its rapid recovery from the pandemic in 2022, with the Ministry of Trade and Industry recently narrowing the GDP growth forecast for the year.1 As industries continue to feel the pinch of high inflation and interest rates, creditors and debtors alike may be considering appropriate solutions for companies which struggle to pay their debts.
Where a bankruptcy order has been made and the Official Receiver/trustee in bankruptcy has been appointed, how should their fees and expenses be dealt with if the bankruptcy order is later set aside following the debtor’s successful appeal? Further, if the bankruptcy proceedings were commenced in breach of an exclusive jurisdiction clause should costs be awarded on an indemnity basis?
These questions were recently considered by the Court of Appeal in Re Guy Kwok-Hung Lam [2023] HKCA 1099. Three key points can be gleaned from the judgment:-
When seeking to recover arrears under a lease, it is often possible to act to recover funds without the need for a court order. If a lease has been registered for preservation and execution in the Books of Council and Session, a creditor can normally move to instruct Sheriff Officers to recover the funds. This procedure is known as summary diligence and can take several forms.
The Hong Kong Courts exercise supervisory jurisdiction over liquidations in Hong Kong. Recently, the High Court reiterated its role to assist liquidators to effectively discharge their duties, in the best interest of the general body of creditors.
Die Schlussabrechnungsfrist für viele Coronahilfen läuft am 31. Oktober 2023 ab. Es lohnt die Krisenfrüherkennung mittels rollierender Liquiditätsplanung.
引言
在香港、中国内地和台湾等司法管辖区运营的家族企业，通常会把企业的实益拥有权和控制权置于英属维尔京群岛（下称“BVI”）注册成立的公司股东名下。受惠于 BVI 公司隐私法的相关优势及其对高净值个人和家族的特殊吸引力，整个企业的实益拥有权甚至能位于国际业务结构顶端的 BVI 控股公司（下称“BVI 控股公司”）发行的股份。
从遗产规划的角度来看，为了确保企业由家族或高净值个人保留控制，企业的融资方式通常是通过股东或几个主要股东向企业提供贷款。如果企业多年来的融资方式一直是 BVI 控股公司获提供的贷款，那么该 BVI 公司欠下的债务总额很有可能相当庞大。一旦贷款人去世便会产生一系列问题，例如死者能否追讨 BVI 公司欠下的债务、追讨申请的正确诉讼地等。
本文将厘清上述部分问题，并分享康德明对于已故个人代表在 BVI 追讨债务的一些指引。
September, 2023 For Private Circulation - Educational & Informational Purpose Only A BRIEFING ON LEGAL MATTERS OF CURRENT INTEREST KEY HIGHLIGHTS * Bombay High Court: Secured creditor may initiate recovery proceedings against secured asset owned by guarantor even if principal borrower is placed under moratorium. ⁎ Calcutta High Court: Application for removal of arbitrator must be made before the same court as envisaged in Sections 2(i)(e) and 42 of the Arbitration and Conciliation Act, 1996.