The Arrium proceedings On 17 August 2021, following a 38 day hearing involving 30 parties, nine law firms, over 35 Counsel, 40 witnesses, hundreds of thousands of documents and thousands of pages of written submissions, the New South Wales Supreme Court (Ball J) handed down its judgment dismissing two related proceedings brought by different lenders (or assignees from lenders) against combinations of the former CFO, former Treasurer, former Acting Treasurer and former Treasury and Finance…
In brief On 14 May 2021, the Supreme People’s Court (SPC) and the Hong Kong government agreed a framework (“Framework”) for judicial cooperation in corporate insolvency and debt restructuring. Under the Framework: A Mainland bankruptcy administrator may apply to the Hong Kong High Court for recognition of and assistance to Mainland bankruptcy proceedings.A Hong Kong liquidator or provisional liquidator may apply to the Intermediate People’s Court at a designated pilot area for recognition of and…
In brief We have seen a noticeable increase in the prevalence and sophistication of cyber fraud incidents in recent years. This has led to a substantial rise in civil recovery actions, and as a result, we now have the benefit of key learnings from recent decisions by the Hong Kong Courts and other jurisdictions. This alert discusses some of the common themes and challenges victims of fraud may face in civil recovery actions, particularly in…
In brief Boardroom battles are becoming more common in Hong Kong, particularly in a listed company context. A boardroom can be a place where individuals with the best intentions for a company can exchange views, but it can also be a hotbed for conflict when disagreements arise. A recent Court of First Instance judgment sets out some reminders of the cardinal principles which an applicant in a boardroom battle should observe in an ex parte…
In brief On 11 May 2021, the Supreme People’s Court (SPC) issued Official Letter No. 125/TANDTC-VP to instruct lower courts on the continued prevention of the COVID-19 outbreak (“OL 125”). Later, on 26 May 2021, the SPC issued Official Letter No. 155/TANDTC-VP on the continued prevention of the COVID-19 outbreak at the SPC (“OL 155”). Below is a summary of key instructions from the SPC that may affect parties to lawsuits. 1. Temporary suspension of…
Victims of cyber fraud have been using vesting orders – a means of direct recovery for victims of fraud – to recover stolen funds from fraudsters and subsequent recipients. Often applied concurrently with a default judgment, vesting order is thought to be a convenient alternative to garnishee proceedings. In Brief In the past year, the Courts’ jurisdiction to grant vesting orders in cyber fraud cases has been reassessed. There are now conflicting first-instance judgments on…
In brief The Supreme Court of Victoria’s recent decision in Vergara v Chartered Accountants ANZ [2021] VSC 34 has important implications on the availability of judicial review in respect of the decisions of private bodies in Australia. The full decision can be found here. Mr Vergara’s claim Claudio Vergara was a member of Chartered Accountants Australia & New Zealand (CA ANZ) from May 2001 until his membership was cancelled in March 2015. His membership was cancelled…
In brief Recent developments The Supreme Court has issued Administrative Matter No. 19-10-20-SC or the 2020 Guidelines for the Conduct of Court-Annexed Mediation (CAM) and Judicial Dispute Resolution (JDR) in Civil Cases (“Revised Guidelines”), which took effect on 1 March 2021. Contents BackgroundHighlights of the Revised GuidelinesActions to consider Background The Revised Guidelines were issued in light of the amendments introduced by the 2019 Amendments to the Rules of Civil Procedure, which took effect on 1 May…
Written records are of primary importance in construction projects. Not only do they obviate disputes as to alleged happenings, but they also help focus the parties’ attention on any potential adjustment of the contract sum. In Vim Engineering Pte Ltd. v. Deluge Fire Protection (SEA) Pte Ltd. [2021] SGHC 63, the General Division of the Singapore High Court (SGHC) held that a contractor is not entitled to claim for variation works that were carried out pursuant to…
In Range Construction Pte Ltd v Goldbell Engineering Pte Ltd [2021] SGCA 34, the Singapore Court of Appeal (SGCA) considered, for the first time, whether an employer has the right to set off its claim for liquidated damages against a contractor’s payment claim in an adjudication under the Building and Construction Industry Security of Payment Act (SOPA). The contractor’s payment claim was submitted on 2 December 2019, and the applicable statute was the pre-amendment Building and Construction…