簡介

中華人民共和國最高人民法院（「最高人民法院」）與香港特別行政區政府於2021年5月14日簽訂了《最高人民法院與香港特別行政區政府關於內地與香港特別行政區法院相互認可和協助破產程序的會談紀要》。在試點計劃下，香港的清盤人可向內地試點地區的有關中級人民法院申請認可香港的清盤程序；同樣地，內地的破產管理人可向香港高等法院申請認可內地的破產程序（「試點計劃」）。最近在Re China All Access (Holdings) Ltd [2021] HKCFI 1842一案中，香港法院首次考慮這項近期發展及試點計劃。

背景

简介

中华人民共和国最高人民法院（「最高人民法院」）与香港特别行政区政府于2021年5月14日签订了《最高人民法院与香港特别行政区政府关于内地与香港特别行政区法院相互认可和协助破产程序的会谈纪要》。在试点计划下，香港的清盘人可向内地试点地区的有关中级人民法院申请认可香港的清盘程序；同样地，内地的破产管理人可向香港高等法院申请认可内地的破产程序（「试点计划」）。最近在Re China All Access (Holdings) Ltd [2021] HKCFI 1842一案中，香港法院首次考虑这项近期发展及试点计划。

背景

In cases under both chapter 15 of the Bankruptcy Code and its repealed predecessor, section 304, U.S. bankruptcy courts have routinely recognized and enforced orders of foreign bankruptcy and insolvency courts as a matter of international comity. However, U.S. bankruptcy courts sometimes disagree over the precise statutory authority for granting such relief, because the provisions of chapter 15 are not particularly clear on this point in all cases.

The U.S. Bankruptcy Appellate Panel for the Eighth Circuit vacated the bankruptcy court’s order confirming a farm debtor’s chapter 12 plan, concluding that the bankruptcy court erred by failing to hold an evidentiary hearing to determine the value of a bank’s collateral where the collateral was disputed. The Panel also concluded that the bank needed to file a proof of claim.

A&C Legal Guides Guide To Litigation and Arbitration in The UAE 2021 PART 2: Offshore Courts Guide to Litigation and Arbitration in the UAE 2021 www.alsuwaidi.ae 2 Preface This guide has been written as an aid to provide users and potential users of legal services with an overview of the legal processes within the United Arab Emirates (UAE) which may be available in any given situation.

Perhaps proving the maxim that people should be careful what they wish for, in a second significant ruling stemming from theJevic Holding Corp. bankruptcy case, on May 5, 2021, the US Bankruptcy Court for the District of Delaware found that Jevic’s Chapter 7 trustee, appointed following the conversion of the debtors’ cases from Chapter 11 to Chapter 7, did not have standing to continue claims originally brought against the debtors’ prepetition lenders by the Chapter 11 creditors’ committee.

s.271(3) Insolvency Act 1986 provides that:

“The court may dismiss the petition if it is satisfied that the debtor is able to pay all his debts or is satisfied—

(a)that the debtor has made an offer to secure or compound for a debt in respect of which the petition is presented,

(b)that the acceptance of that offer would have required the dismissal of the petition, and

(c)that the offer has been unreasonably refused..”

The Federal Court has clarified the ability of an assignee of a claim by a liquidator pursuant to s 100-5 of the Insolvency Practice Schedule to rely upon information and documents obtained from a public examination in private proceedings relating to the assigned claim: LCM Operations Pty Ltd, in the matter of 316 Group Pty Ltd (In Liquidation) [2021] FCA 324.

Takeaways:

Introduction¹

In order to obtain a bankruptcy order upon either a creditors', or a bankrupt's own, bankruptcy application, it must be shown that a debtor:

Supreme Court of the State of New York, County of Monroe, July 15, 2021