Dispute Resolution Beijing/Hong Kong/Shanghai Client Alert Court of Final Appeal Widens Shareholders’ Rights for the Winding-up of Foreign Companies in Hong Kong The Court of Final Appeal’s recent decision in the Yung Kee saga (Kam Leung Sui Kwan, Personal Representative of the Estate of Kam Kwan Sing, the deceased v Kam Kwan Lai & Ors (FACV 4/2015, 11 November 2015)) has widened the door to winding-up relief for shareholders of foreign companies.
Increased vigilance required in actions for recovery: a "yes, but" does not constitute acceptance
In the presence of a retention of title clause where collective insolvency proceedings are initiated against a debtor, the creditor must file a request for the recovery of goods sold under the retention of title clause before the judicial administrator within three months from the date the opening judgment is published in the Bodacc (Official Bulletin of Civil and Commercial announcements).
Dispute Resolution Beijing/Hong Kong/Shanghai Client Alert Creditors Petitioning for Bankruptcy Beware: Absconding Bankrupts May Walk Free After Staying Away from Hong Kong for 4 Years Recent developments The Hong Kong Court of Final Appeal (“CFA”)1 has ruled unconstitutional a provision under the Bankruptcy Ordinance (“Ordinance”) that prevents the period of bankruptcy from commencing when a bankrupt is not in Hong Kong.
Corporate Structures Newsletter - June 2016 Baker & McKenzie Amsterdam For more information please contact: Ilona de Schipper Associate +31 20 551 7806 Director Disqualification Act enters into force on July 1, 2016 On July 1, 2016, the Director Disqualification Act (in Dutch: Wet civielrechtelijk bestuursverbod) will enter into force. The purpose of this act is to combat bankruptcy fraud and prevent managing directors from continuing mala fide activities through existing or new legal entities. Similar legislation is already in place in at least 11 other European Union member states.
Baker & McKenzie Alert Client Alert 28 SEPTEMBER 2015 Download Forward Contact Us Visit Our Website Providing the Commissioner of Taxation with access to records - even liquidators cannot escape Need to know The Federal Court has recently determined that when the Commissioner of Taxation is a creditor of a company in liquidation, he or she is not required to obtain a court order under section 486 of the Corporations Act 2001 (Cth) (Corporations Act), unlike all other creditors, before requiring the Liquidator to make available the company's records for inspection.
The Financial Services Authority (OJK) has issued the first regulation on the dissolution, liquidation and bankruptcy of insurance companies. On 11 December 2015, enacted Regulation No. 28/POJK.05/2015 on Dissolution, Liquidation and Bankruptcy of Insurance Companies, Syariah Insurance Companies, Reinsurance Companies and Syariah Reinsurance Companies (POJK 28). Before the enactment of POJK 28 there was no regulation within the vicinity of the insurance law on matter.
Commercial Dispute Resolution Jakarta Client Alert September 2015 Supreme Court Ruling on Bankruptcy of Bumi Asih Jaya On 9 September 2015, the Republic of Indonesia Supreme Court gave its ruling on the cassation application submitted by the Financial Services Authority ("OJK") regarding the bankruptcy petition against PT Asuransi Jiwa Bumi Asih Jaya ("BAJ"), one of the oldest insurance company in Indonesia. The Supreme Court ruled in favour of OJK and approved the bankruptcy petition against BAJ. Under the previous regime, Law No.
Financial Services Regulatory Singapore Client Alert May 2016 MAS Issues Proposed Enhancements to Resolution Regime for Financial Institutions in Singapore Background In June 2015, the Monetary Authority of Singapore ("MAS") issued a consultation paper on the Proposed Enhancements to the Resolution Regime for Financial Institutions in Singapore ("June 2015 Consultation Paper").
A recent decision of the NSW Court of Appeal demonstrates the importance for security trustees tocarefully consider and understand their obligations in an enforcement scenario.
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