DLA Piper Hong Kong Financial Services Dispute Quarterly Law Report – February 2024 2 DLA PIPER HONG KONG FINANCIAL SERVICES DISPUTE QUARTERLY LAW REPORT – FEBRUARY 2024 Foreword Welcome to the second edition of the DLA Piper Hong Kong Financial Services Dispute Quarterly Law Report.
Many will have waited for a bus only for two to come along at once. So it is in the Cayman Islands, with the ongoing saga as to whether a shareholder can make a claim for misrepresentation in a liquidation and, if so, where such a claim ranks in the order of priority. The rule in Houldsworth barring such claims has been in existence for over 140 years. However, two liquidations have, within weeks of each other, sought to overturn this longstanding rule.
The long-awaited amendment "H" of the Slovenian Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act (the "Act") entered into force on 1 November 2023. The new provisions complete the transposition of Directive 2019/1023,[1] introducing three crucial sets of changes to the Slovenian insolvency and restructuring legislation.
Significant emerging factors and trends are increasing pressure on directors. After several years of relative stasis induced by the pandemic (when many businesses were supported by various government initiatives and bank flexibility, whilst also enjoying ATO and creditor patience), there is a distinct whiff of change in the air. This year, we might see a move back to a more ‘normal’, pre-COVID setting. If so, there will be pressures for some, and opportunity for others.
In recent months, there have been a few changes regarding MVLs, which we set out below as a helpful reminder to practitioners.
Statements of Solvency
Copies Only
S89 of the Insolvency Act 1986 sets out the requirements for a statutory declaration of solvency where it is proposed that a company is wound up on a solvent basis.
Winding up of a private limited company in Thailand takes longer time than registering it. The Civil and Commercial Code (“CCC”) of Thailand is the main legislation that sets out the requirements and procedures for winding up of the company as summarized below. The Articles of Associations of the company and the Shareholders Agreement (if any) made amongst the shareholders of the company may also set out requirements in addition to those under the CCC.
Dissolution
On March 11, 2024, the Minister of Affordability and Utilities (MUA)
MONTHLY NEWSLETTER SERIES MARCH, 2024 | VOL. X VAISH ASSOCIATES ADVOCATES LEGALAXY WWW.VAISHLAW.COM LEGAL MAXIM Delegatus non potest delegare: ‘A delegate cannot further delegate’ MONTHLY NEWSLETTER SERIES MARCH, 2024 | VOL.
On February 21, 2024, the Hon’ble National Company Law Appellate Tribunal, Chennai (“NCLAT”) in the case of Kiran Martin Gulla RP of Vardharaja Foods Pvt. Ltd. held that when an extension to complete the corporate insolvency resolution process (“CIRP”) is granted by the Adjudicating Authority, then such period will be calculated form the date on which the Adjudicating Authority passes such an order.
Brief Facts
Ein Überblick über Inhalt und Anforderungen der planergänzenden Sanierungsinstrumente des StaRUG zum zielgerichteten Einsatz in der Praxis.