The Supreme Court has handed down a decision in Bilta (UK) Ltd (in liquidation) and othersv Tradition Financial Services Ltd [2025] UKSC 18, which clarifies the parties who ar
In Re Chow Kai Weng (A Debtor) [2025] HKCFI 1888, the Court dismissed the Debtor’s interim order application.
Individual Voluntary Arrangement (IVA) is an alternative to bankruptcy – it involves an application to the Court for an Interim Order. The debtor is required to make a repayment proposal to the creditors which, on approval, is binding on all creditors. However, contrary to the widely-held belief that interim order applications appear to be non-contentious in nature, time and again the Court of Appeal has reminded practitioners that:
In a recent decision, the Swiss Federal Supreme Court has clarified equitable subordination risks in connection with shareholder loans. The key takeaways are as follows:
On 2 May 2025, the Supreme Court delivered its judgment in respect of the corporate insolvency resolution process of Bhushan Power and Steel Limited (“BSPL”). In a very significant ruling, the apex court rejected the resolution plan of JSW Steel Ltd. (“JSW”) for BSPL and directed the liquidation of the corporate debtor, almost five years after the plan had been approved by the Committee of Creditors and the NCLT and the Resolution Plan had been implemented.
Facts and Background
On 7 May 2025, the UK Supreme Court (UKSC) handed down a judgment providing useful guidance on the meaning of “fraudulent trading” within s.213 of the Insolvency Act 1986 (Insolvency Act) and how the test in s.32(1) of the Limitation Act 1980 (Limitation Act) operates, in Bilta (UK) Ltd (in liquidation) v Tradition Financial Services Ltd [2025] UKSC 18 (Bilta). In this article, we give a brief summary of the facts, issues and rulings in the judgment and its practical implications for Hong Kong’s corporate insolvency regime.
Background
Introduction
- The Fifth Circuit's December 2024 decision in Serta Simmons Bedding invalidated an uptier transaction in which certain lenders provided new money financing and exchanged existing debt for new super-priority debt.
- The Fifth Circuit criticized the doctrine of equitable mootness, rejecting the argument that the doctrine barred the court's review of the bankruptcy court's plan confirmation order because the plan had already been substantially consummated and relied upon by third parties.
- The Fifth Circuit's refusal to apply the doctrine of equitable mootness is not
1 2 Capital Market 9 Dispute Resolution 14 Fintech 19 Media and Entertainment 24 RERA 27 Sports and Gaming 39 White Collar Crime 03 Competition Law 11 Employment Law 17 International Trade/ WTO 19 MCA 25 Restructuring and Insolvency 34 Technology 40 3 EXTENSION OF TIMELINE FOR FORMULATION OF IMPLEMENTATION STANDARDS PERTAINING TO SEBI CIRCULAR ON “SAFER PARTICIPATION OF RETAIL INVESTORS IN ALGORITHMIC TRADING”1 Securities Exchange Board of India (“SEBI”) issued a circular “Safer participation of retail investors in algorithmic trading” dated February 04, 2025, which aimed at ensuring safer
This is the story of the first Indian insolvency proceeding to be granted recognition by the Singapore Court under the UNCITRAL Model Law on Cross-Border Insolvency (“Model Law”). This recognition, besides facilitating the challenging cross-border asset recovery, has also opened the doors for deeper insolvency cooperation between India and Singapore.
In a recent ruling, the Supreme Court of India in Rakesh Bhanot v. Gurdas Agro Private Limited1 (with connected appeals) (collectively “Appeals”) clarified the scope of the interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 (“Code”).