Mondaq Asia Pacific: Insolvency/Bankruptcy, Re-structuring
DibbsBarker
This article is the third in our series focussed on business restructuring recommendations set out in the draft report.
Corrs Chambers Westgarth
Fraudulent employees would be prevented from proving their employment entitlements in their employer's insolvency.
DibbsBarker
The article considers a proposed 'safe harbour' to explore restructuring options without liability for insolvent trading.
Corrs Chambers Westgarth
The case confirms that priority creditors do not have a statutory entitlement under s433 to a receiver's trading profit.
DibbsBarker
The draft report raises some interesting business restructuring recommendations, canvassing topics for consideration.
Corrs Chambers Westgarth
This case confirms the guiding principles for the court's discretion to set aside a composition passed by the creditors.
Harneys
In response to the turbulent economic times seen of late, there has been a significant growth in the use of schemes of arrangement to compromise creditors' claims where the company in question is facing financial difficulty.
Mayer Brown JSM
We have previously reported that the Official Receiver retains its entitlement to ad valorem fees on the conversion of a compulsory liquidation to a creditors' voluntary winding-up (CVL).
Mayer Brown JSM
Under Hong Kong law, the courts’ jurisdiction is ordinarily territorial in nature. A plaintiff or applicant has to obtain permission of the court before it can validly serve a writ or other document initiating a legal action on a defendant or respondent located outside Hong Kong.
Nishith Desai Associates
Bombay High Court holds that oppression and mis-management claims fall outside the purview of an arbitration proceeding.
Dentons
The Law of the Republic of Kazakhstan No. 176-V "On Rehabilitation and Bankruptcy" dated 7 March 2014was amended as follows:
Chapman Tripp
This is a assessment of our previous review and our best guess of insolvency issues to dominate the next 12 months.
Chapman Tripp
Receivers should be wary of section 32(5) of the Receiverships Act, with personal liability for rent and other payments.
Duncan Cotterill
The court rejected the controversial "peak indebtedness" approach to calculating voidable transactions in a liquidation.
Chapman Tripp
This Court of Appeal decision dismissed two appeals on an issue that is significant for both liquidators and creditors.
Chapman Tripp
The case raises issues about the appropriate balance between promoting retirement savings and protecting creditor rights.
Chapman Tripp
Liquidation meetings are for unsecured creditors. A secured creditor has no vote, except in respect of debt that is unsecured.
Duncan Cotterill
The decision settles an issue which has caused considerable uncertainty for many businesses and insolvency practitioners.
Wynn Williams Lawyers
New value is not needed by creditors to rely on the section 296 defence to voidable transactions under the Companies Act.
Chapman Tripp
The Supreme Court has considerably expanded the "good faith" defence for voidable transactions in favour of creditors..
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Kemp Strang Lawyers
The article outlines what is a disclaimer, the effect on a mortgagee, and what can be done to resolve these problems.
HopgoodGanim
The Alert briefly explains the proposed changes and examines the potential utility of the safe harbour by directors.
Cooper Grace Ward
A set-off could help to cancel out or significantly reduce the director's liability to the company for insolvent trading.
Corrs Chambers Westgarth
Without the PPSA transitional provisions, Central would not have been able to enforce its retention of title clauses.
Cooper Grace Ward
When selling company property, a controller must take all reasonable care to sell it for not less than its market value.
Kemp Strang Lawyers
The way that a liquidator or receiver accounts for the proceeds of assets may be significantly impacted by this appeal.
DibbsBarker
This case considered the PPSA in relation to security interests over funds in a jointly controlled separate account.
Corrs Chambers Westgarth
The case concerned an application by a liquidator in a members' voluntary winding-up, involving ten related companies.
Nishith Desai Associates
The Supreme Court held that the provisions of the Sick Industrial Companies Act, 1985 shall prevail over the provision for the recovery of debts in the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
Kott Gunning
A landlord's ability to recover money from a tenant in circumstances of insolvency is affected by the security they take,.
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