In brief
On 29 February 2024, the court of appeal will hear an appeal against an order for the insolvent liquidation of a company that unsuccessfully argued, at first instance, that the petitioning debt was subject to a dispute covered by contractual agreements to arbitrate. While the interplay between insolvency and arbitration is not a new issue, the upcoming hearing will be the first time after the court of final appeal's decision in Re Guy Kwok-Hung Lam [2023] HKCFA 9 ("Guy Lam") for the court of appeal to clarify the principles.
海事赔偿责任限制制度是《海商法》中最为特殊的制度安排之一，在单独的海事诉讼程序中，按照《海商法》、《海诉法》及其司法解释，各家海事法院及其上级法院已构建起我国涉及海事赔偿责任限制制度的完整体系。但如果航运企业责任人设立海事赔偿责任限制基金后，又因难以清偿企业的到期债务，进行破产清算，基金程序将与破产程序并存，两者之间既有互相冲突的地方，又有立法空白的地方。本文结合我们承办的有关案例以及实务界的研究成果，对海事赔偿责任限制制度在航运企业破产程序中的冲突与协调进行分析和讨论。
一、海事赔偿责任限制及基金制度与破产程序冲突的缘由
Business organizations, like any other ventures, are not immune to the complexities of economic downturns that may be brought about by volatile market conditions, shifting consumer preferences, or unforeseen global events. Whether it is a multinational corporation navigating international markets or a small family-owned business operating in a local community, the impact of economic fluctuations can reverberate across industries and sectors.
Court approval of a sale process in receivership or Bankruptcy and Insolvency Act (“BIA”) proposal proceedings is generally a procedural order and objectors do not have an appeal as of right; they must seek leave and meet a high test in order obtain it. However, in Peakhill Capital Inc. v.
As a wise man is wont to say, “Where you stand depends on where you sit.”
This statement applies with full force to the recent, related opinions from Judge Marvin Isgur of the United States Bankruptcy Court for the Southern District of Texas, addressing the effects of a so-called “uptier” liability management transaction.1
Procedurally, Judge Isgur’s rulings denied in part and granted in part motions for summary judgment, permitting certain claims to proceed to trial beginning on January 25, 2024.
R (on the application of Palmer) (Appellant) v Northern Derbyshire Magistrates’ Court and another (Respondents) [2023] UKSC 38
On appeal from: [2021] EWHC 3013
Appeals under the Bankruptcy and Insolvency Act (BIA) generally result in an automatic stay of the order under appeal—a potentially costly and disruptive outcome. Accordingly, the BIA requires by default that an interested party first seek leave to appeal a lower court decision unless its appeal meets a set of prescribed circumstances that appears broad but, in practice, has been construed very narrowly by the courts (i.e., making it difficult to obtain leave to appeal). In Peakhill Capital Inc. v.
In Short
When individuals are made bankrupt in Scotland, the formal term is 'sequestration', a trustee will be appointed to deal with the sequestration. That trustee will be responsible, amongst other things, for contacting creditors, assessing their claims, ingathering the assets of the debtor and converting them into cash in order to settle the costs of the sequestration and pay dividends to creditors.