중국 기업파산법> 제5조 제2항은 “외국법원의 파산 판결, 결정이 채무자의 중국 영역 내의 재산과 관련되어 인 민법원에 승인 및 집행할 것을 신청 또는 청구하는 경우, 인민법원은 중국이 체결하였거나 가입한 국제조약, 또 는 호혜의 원칙에 따라 심사를 진행하여, 중국 법률의 기본원칙에 위배되지 아니하며 국가주권, 안전 및 사회공공 이익을 훼손하지 않으며 중국 영역 내의 채권자의 합법적 권익을 침해하지 않는 경우에는 승인 및 집행 결정을 할 수 있다”고 규정하고 있습니다. 근래에 중국법원들이 이 조항에 근거하여 외국법원의 파산 결정을 승인하는 사례 들이 등장하고 있어 그 구체적인 내용을 소개합니다.

1. 싱가폴 사례 - 하문(厦门)해사법원 사건

On April 19, 2023, the U.S. Supreme Court unanimously held in MOAC Mall Holdings LLC v. Transform Holdco LLC that Section 363(m) of the Bankruptcy Code is not jurisdictional. The decision requires parties timely to invoke that provision, or else risk forfeiting its protections. The decision also continues the Supreme Court’s trend of interpreting statutes to be non-jurisdictional (and thus waivable or forfeitable) in the absence of a clear congressional statement to the contrary.

Background

Federal Bill C-228¹ (the Bill), new legislation intended to improve the protection of, and to extend the super-priority given to claims relating to, defined benefit pension plans in insolvency proceedings, completed third reading in the Senate on April 18, 2023 and is now awaiting Royal Assent before it becomes effective. The Bill is the result of a private members' bill, which was passed by the House of Commons in late 2022.

In line with EU regulation, Luxembourg has finally passed an amendment resulting in the creation of an insolvency register, active since 10 February, 2023. The change will affect Luxembourg companies declared insolvent and is intended to improve searches of insolvency registers throughout the EU.

April, 2023 For Private Circulation - Educational & Informational Purpose Only A BRIEFING ON LEGAL MATTERS OF CURRENT INTEREST KEY HIGHLIGHTS ⁎ Bombay High Court: Arbitration clause can be invoked by assignee of rights under contract. * NCLT: Dissenting secured creditor cannot be treated higher than other creditors under Section 53 of the IBC just because they enjoy security interest. * Bombay High Court: “One-ness of interest”- the touch-stone for defendant to be transposed as plaintiff in case of part abandonment of suit claim. April, 2023 http://www.vaishlaw.com/ I.

It is generally accepted that the push towards a greener future requires robust legislation, and in the case of common law jurisdictions ,supportive legal precedent which will assist in framing the landscape for the enforcement of environmental remediation obligations.

On April 19, 2023, the U.S. Supreme Court issued its opinion inMOAC Mall Holdings LLC v. Transform Holdco LLC, 598 U.S. (2023), reversing the Second Circuit decision and determining that the limitations on appeals of bankruptcy sale orders provided in section 363(m) of the Bankruptcy Code are not jurisdictional. Rather section 363(m) merely provides a "caveated constraint" on the appellant’s remedies on such appeals.

Johnson & Johnson filed bankruptcy back in 2021 (In re LTL Management, Case No. 21-30589, New Jersey Bankruptcy Court).

That bankruptcy is now dismissed—on order of the U.S. Third Circuit Court of Appeals.

So, Johnson & Johnson refiles its bankruptcy (In re LTL Management, Case No. 23-12825, New Jersey Bankruptcy Court).

New and Improved

Here’s what’s new and improved about the second bankruptcy[fn. 1]:

Key Points

Given the current financial climate you may wonder what options are open to you or your organisation when you are owed money by a third party. There can often be an assumption that lengthy court processes are required to recover sums due. That is not the case and in this article we consider some of the options available to help recover debts in Scotland.

Pre-Court Action

Statutory Demand