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    Pre-pack proceedings Slovak law: challenge to avoid speculations?
    2023-08-14

    Only a year ago, Slovakia transposed EU Directive 2019/2023 on preventive restructuring frameworks with an intention to reform insolvency proceedings and make them more effective.

    Filed under:
    European Union, Slovakia, Insolvency & Restructuring, Litigation, CMS Ukraine, Bankruptcy, Due diligence, European Commission
    Authors:
    Zuzana Nikodemova , Juraj Fuska , Soňa Hanková , Oliver Werner
    Location:
    European Union, Slovakia
    Firm:
    CMS Ukraine
    仲裁合意をした当事者の倒産
    2023-08-08

    第1 はじめに 

    国際契約を中心に、契約書に仲裁条項が設けられることは 珍しくありません。仲裁条項のある契約について紛争が生じた 場合、裁判所ではなく合意された仲裁機関での紛争解決が 試みられます。では、このような仲裁条項のある契約について、 一方当事者が倒産した場合、仲裁条項は引き続き有効でしょ うか。仲裁という当事者間の合意を重視する手続と、倒産とい う強行法規的に一律かつ集団的な調整を行う手続とは、相 互に相反するようにも見受けられます。仲裁と倒産の関係につ いては、国際的にも大きな議論があるところですが、以下で は、仲裁条項のある契約につき、海外の契約相手が破産した 場面を想定して、基本的な考え方を概観したいと思います。

    第2 仲裁合意は破産管財人を拘束するか

    一般的な仲裁条項は、例えば、以下のような条項であり、契 約に関するあらゆる紛争は、合意された仲裁条項に基づき、 合意された仲裁機関(下記の例では、シンガポール国際仲裁 センター)で仲裁により最終解決されます。

    Filed under:
    Japan, Arbitration & ADR, Insolvency & Restructuring, Oh-Ebashi LPC & Partners
    Authors:
    Hirotake Tanaka
    Location:
    Japan
    Firm:
    Oh-Ebashi LPC & Partners
    Federal Court: Leave of Winding Up Court required to commence legal proceedings against a Court Appointed Liquidator
    2023-08-08

    In the recent decision in N.Chanthiran a/l Nagappan v Kao Che Jen [2023] 5 MLRA 247, the Federal Court had the occasion to put to rest, the question of whether leave of court is required for the commencement of proceedings against a court appointed liquidator. In this regard, the Federal Court clarified that leave of court is indeed required.

    Brief Facts

    Filed under:
    Malaysia, Company & Commercial, Insolvency & Restructuring, Litigation, SKRINE, Liquidation, Winding-up
    Authors:
    Janice Ooi Huey Peng
    Location:
    Malaysia
    Firm:
    SKRINE
    (UK) Litigation Funding in Insolvency - Where Does PACAAR leave us?
    2023-08-10

    Although a non-insolvency case the recent case of PACCAR Inc & Ors v Competition Appeal Tribunal & Ors (“PACCAR”) has caused waves in the litigation market (including insolvency litigation market) following the Supreme Court finding that litigation funding agreements (LFAs) where funders recover a percentage of the amount awarded to a claimant are damaged based agreements (DBAs) – which- unless the LFA complied with the Damages Based Agreements Regulations 2013 (“DBA Regs”) means that they are unenforceable.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Litigation funding, Insolvency, Supreme Court of the United States
    Authors:
    Helena Clarke
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    Federal Bankruptcy Court Stays Envision Healthcare Litigation in California
    2023-08-04

    From the West Coast Healthcare Desk is a new ongoing series of Holland & Knight Healthcare Blog articles and alerts focused on healthcare industry developments and points of interest in the West Coast healthcare marketplace. Holland & Knight's nationally ranked healthcare practice has been focused on healthcare compliance, transactional, reimbursement and operational trends that have often started in California before spreading nationwide – managed care and various capitated and quality-based reimbursement models being the most obvious examples.

    Filed under:
    USA, California, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Holland & Knight LLP, Private equity
    Authors:
    Kenneth Jonathan Yood , William L. Weiner
    Location:
    USA
    Firm:
    Holland & Knight LLP
    Arbitration and insolvency: Australian court determines when arbitration costs orders can be recoverable against a company in administration
    2023-08-04

    The Federal Court of Australia recently determined an application brought by the administrators of a company in voluntary administration seeking judicial guidance on how to deal with claims for costs and interests resulting from two prior arbitrations. The key issue was whether the costs and interests awarded in the previous arbitrations were admissible to proof in the administration of the company, having regard to the fact that the relevant arbitral awards were made after the appointment of administrators.

    The Court made a distinction between the two arbitrations as follows:

    Filed under:
    Australia, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, UNCITRAL, International Arbitration Act 1974 (Australia), Federal Court of Australia
    Authors:
    Leon Chung , Guillermo García-Perrote , Inigo Kwan-Parsons
    Location:
    Australia
    Firm:
    Herbert Smith Freehills LLP
    Committee of creditors can allow submission of resolution plans through the challenge processc
    2023-08-04

    A 2 (two) member bench of the Hon’ble National Company Law Appellate Tribunal, Chennai (“NCLAT”) in the matter of Consortium of Prudent ARC Ltd. vs. Mr. Ravi Shankar Devarakonda & Ors has applied the ratio in the judgment of Vistra ITCL (India) Ltd. Vs. Torrent Investments Private Limited to hold that the committee of creditors of Meenakshi Energy Limited (“CoC”) in its commercial wisdom can allow resolution applicants to submit revised resolution plans through the challenge process.

    Filed under:
    India, Insolvency & Restructuring, Litigation, JSA, National Company Law Tribunal
    Authors:
    Varghese Thomas , Tushar Nagar , Akhil Nene
    Location:
    India
    Firm:
    JSA
    Pre-pack insolvency sale in the Czech Republic: Current situation and outlook
    2023-08-07

    A pre-pack insolvency sale, which is an expedited liquidation proceeding that allow for the sale of all or part of a debtor’s business as a going concern to the best bidder shortly after the insolvency proceedings are opened, is not formally regulated in the Czech Republic.

    Filed under:
    Czech Republic, Insolvency & Restructuring, CMS Cameron McKenna Nabarro Olswang LLP, Insolvency, European Commission
    Authors:
    Paul Stallebrass , Lukáš Valúšek
    Location:
    Czech Republic
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Recent changes to Hong Kong bankruptcy laws a win for creditors and the environment
    2023-08-07

    The Government of Hong Kong continues its push towards favouring digitisation over using hardcopy documents. The new changes to local bankruptcy laws allows: (1) electronic service of statutory demands; (2) using electronic bundles and skeletons for winding-up and bankruptcy applications; and (3) allowing electronic submission of documents to the Official Receiver.

    Electronic service of statutory demands: A game changer for creditors and debtors

    Filed under:
    Hong Kong, Insolvency & Restructuring, IT & Data Protection, Litigation, Tanner De Witt, Liquidation, Non-fungible tokens
    Authors:
    Ian De Witt
    Location:
    Hong Kong
    Firm:
    Tanner De Witt
    Pre-pack sales procedures in Hungary
    2023-08-07

    The success of the recently introduced pre-pack-like rules in Hungary will help determined how the EU Directive on pre-pack sales will be implemented in this country.

    Existing pre-pack-like rules

    Filed under:
    Hungary, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Insolvency
    Authors:
    Sándor Kovács , Szabina Soptei
    Location:
    Hungary
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP

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