New legislation has been introduced in the UK which restricts the rights of parties to construction contracts to terminate or even suspend work. This means that even if your contract says you can terminate or suspend – for example, for non-payment – you may not in the future be able to exercise this right. These reforms are likely to lead to significant changes to how parties operate their contracts and credit lines.

This judgment provides some guidance in relation to the scope and application of s283A IA86,  which gives a bankrupt’s trustee in bankruptcy three years to take the necessary steps to realise or secure the bankrupt’s interest in the bankrupt’s home failing which that interest will cease to be part of the estate and will automatically re­vest in the bankrupt.

In this case the court was concerned with the meaning of the phrases (a) ‘an interest in’, (b) ‘a dwelling­house’ and (c) ‘sole or principal residence’ under s283A(1).

The recent High Court decision in Hellard & Anor v Registrar of Companies & Ors [2020] EWHC 1561 (Ch) (23 June 2020) serves as a useful reminder to any party seeking the restoration of a company to the Register of Companies that it is important first to consider whether such party has the requisite standing to make the application.

In the matter of the Companies’ Creditors Arrangement Act (“CCAA”) of the S.M. Group, the Québec Court of Appeal rendered a ruling on the effect of the law of set-off on debts arising out of alleged fraud and the application of the same Court’s ruling in Kitco to this type of debts.

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The liquidators of a subsidiary company had submitted a proof in the CVA of the parent company. The proof was based upon a claim under section 239 of the Insolvency Act 1986 (IA86) that  certain payments by the parent to the subsidiary had amounted to unlawful preferences of the company. The liquidators appealed against the decision by the supervisor of the CVA to reject that proof.

Following the Insolvency Service’s announcement that it will produce monthly (as opposed to quarterly) company and individual statistics for England and Wales, to assist the Government and the insolvency sector in monitoring the impact of COVID­19, the results for July showed that:

On May 6, 2020, in the case of In re Peabody Energy Corporation, 958 F.3d 717 (8th Cir.), the U.S. Court of Appeals for the Eighth Circuit held, in an apparent case of first impression, that state statutory and common-law climate change tort claims are dischargeable in bankruptcy and were in fact discharged in this case, affirming the decisions of the lower courts.¹

引言

随着 COVID-19 疫情持续在全球范围内造成严重破坏，疫情对泰国经济的影响 也非常明显。由于暂停对国际旅客的开放，占泰国 GDP15％以上的旅游业在 本年度收入已大幅减少。严重依赖旅游业的企业已经被迫关闭了成千上万家， 而许多在 COVID-19 之前就已经遇到财务困难的公司现在已濒临破产边缘。 今年，泰国的破产与重整法在 1997 年亚洲金融危机以后又一次重回公众的视 野。2020 年 4 月下旬，泰国行业领先的房地产开发商之一 PACE Development Public Company Limited 向泰国中央破产法院（“法院”）提交了破产重整 申请。

紧接着是泰国的老牌航空公司——泰国国际航空公司（Thai Airways International Public Company Limited，简称“ 泰航”），由于 COVID19 造成的财务困难，于 2020 年 5 月 26 日向法院提交了破产重整申请。曾经 被视为航空企业标杆的泰航，截至 2020 年 3 月 31 日，债务总额高达 3540 亿 泰铢（约合 112 亿美元）。法院初审时间定在 2020 年 8 月 17 日，届时法院 将裁定是否接受泰航继续进行破产重整。

Hong Kong Court refuses to grant an antisuit injunction to stay a winding-up petition where an arbitration agreement existed

21 August 2020

The Hong Kong Court of First Instance has dismissed an application by a British Virgin Islands (BVI) company (C) for an interim anti-suit injunction against proceedings commenced by a Cayman Islands company (D) for the winding-up of the BVI company in the High Court of the BVI.