Mondaq Asia Pacific: Insolvency/Bankruptcy, Re-structuring
DibbsBarker
The recent Financial Systems Inquiry (FSI) Interim Report suggests that Chapter 11 would not be beneficial to Australia.
Corrs Chambers Westgarth
A court can order the termination of a deed of company arrangement (DOCA) proposal if it suspects "phoenix activity".
Boss LAwyers
It depends - the trustee in bankruptcy will calculate your claim as a creditor, by asking you for a "proof of debt".
Boss LAwyers
The High Court considered the competing entitlements of a liquidator and a secured creditor to the proceeds of a claim.
K&L Gates
Receivers need to ensure sufficient assets in the company can meet unsecured priority claims, including employee claims.
Norton Rose Fulbright Australia
Australian companies with a global presence can choose the location where they wish to start an insolvency proceeding.
Clyde & Co
Hainan PO Shipping was established by Hainan State-owned Assets Supervision and Administration Commission in 2009.
Mayer Brown JSM
Did you know that a liquidator of a foreign company may seek the assistance of the Hong Kong Court to obtain orders for the production of information.
Shine Wing
This article highlights the key provisions in this 2nd Interpretation and the distinction between this Interpretation and the relevant Hong Kong insolvency provisions.
Tanner De Witt
This update considers recent cases that clarify the statutory structure applying to a provisional liquidator’s remuneration.
Tanner De Witt
An unfair preference claim is a powerful tool for liquidators to recover assets of the company when a creditor’s position has been unfairly improved by the company prior to its winding up.
Tanner De Witt
The May 2010 decision of Harris J in Re Cyberworks Audio Video Technology Ltd [2010] caused some excitement among the insolvency community in Hong Kong.
Mayer Brown JSM
On a recent Mayer Brown JSM application (on behalf of the Liquidators of one of the Lehman Brothers entities) to reduce and expunge proofs of debt, the Hong Kong High Court has ruled that creditors who receive an overpayment of dividends due in respect of a proof of debt which has been "improperly admitted" (rule 96, Companies Winding-Up Rules) must give credit for those overpayments before receiving further dividends in the liquidation (Re Lehman Brothers Commercial Corp Asia Ltd ("LBCCA") [20
Mayer Brown JSM
Following our previous legal update on substituted service of a statutory demand against an individual, the Court of Appeal’s recent decision in "FWD Life Insurance Co (Bermuda) Ltd v. Chan Kim Fai" sheds light on the requirement of Rule 59 of the Bankruptcy Rules for substituted service of a bankruptcy petition.
Mayer Brown JSM
Did you know that dispositions of property of a solvent company made after the commencement of a winding-up will unlikely be disturbed unless it can be demonstrated that the disposition is not in the interests of the company?
Mayer Brown JSM
As we pointed out in our Legal Update of 30 January 2014 ("New Companies Ordinance – Old Winding Up and Insolvency Regime"), the new Companies Ordinance for Hong Kong (Chapter 622) is scheduled to take effect from 3 March 2014 but it will not cover the winding-up and insolvency regime.
Nishith Desai Associates
A foreign decree has to satisfy the test prescribed by Section 13 of the CPC for it to be conclusive and executed in India.
Chapman Tripp
As New Zealand inches toward a more regulated insolvency regime, Australian court decisions may become more relevant here.
Chapman Tripp
We dust off the crystal ball and look ahead to what we expect will be the 'big five' insolvency issues.
Chapman Tripp
Liquidators should continue to use the section 295 procedure to recover insolvent transactions that have been set aside.
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Singh & Associates
Section 530 under the Chapter V of Part VII of the Companies Act, 1956 provides for the sequence of the payments which shall be made in the course of winding up of a company.
Clayton Utz
A forbearance arrangement will ensure that both lender and customer are aligned on the proposed turnaround or workout.
Rockwell Olivier
The service of a statutory demand could be the first step towards placing an insolvent company into liquidation.
CBP Lawyers
Liquidation or winding-up is the process when a company's assets are liquidated and a company is closed or deregistered,.
K&L Gates
Administrators and liquidators must examine their relationships to ensure there is no appearance or apprehension of bias.
Clayton Utz
Courts will remove liquidators for bias even if it might cause significant inconvenience and expense to the liquidation.
Kott Gunning
The case is very important for liquidators, administrators, and anyone appointing them or challenging their appointment.
Nishith Desai Associates
A foreign decree has to satisfy the test prescribed by Section 13 of the CPC for it to be conclusive and executed in India.
Swaab Attorneys
The case provides certainty for liquidators to obtain reimbursement when action to realise company assets is successful.
Clayton Utz
Lenders and customers should not enter a forbearance arrangement without understanding its terms, risks and conditions.
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