Category

Insolvency

Category

From a civil litigation and insolvency perspective, we look at the key impacts of the Hong Kong Courts’ recent General Adjournment of Proceedings (GAP) from 7 March 2022 to 11 April 2022 and related governmental closures. Key Takeaways 1. The recent implementation of GAP has resulted in a de facto stay of new actions and proceedings, and adjournment of existing actions, including bankruptcy and winding-up petitions. 2. While monitoring the GAP situation, debtors and creditors…

Welcome to issue #8 of our Arrium Series, where senior members of the Baker McKenzie team involved in the successful defence of proceedings against the former CFO, former Treasurer and other former employees of the Arrium Group, consider key issues arising in those and related insolvent trading proceedings and from the judgment handed down on 17 August 2021.[1] A summary of the relevant background to the Arrium proceedings, some key terms and the key issues…

Welcome to issue #7 of our Arrium Series, where senior members of the Baker McKenzie team involved in the successful defence of proceedings against the former CFO, former Treasurer and other former employees of the Arrium Group, consider key issues arising in those and related insolvent trading proceedings and from the judgment handed down on 17 August 2021.[1] A summary of the relevant background to the Arrium proceedings, some key terms and the key issues…

Welcome to issue #6 of our Arrium Series, where senior members of the Baker McKenzie team involved in the successful defence of proceedings against the former CFO, former Treasurer and other former employees of the Arrium Group, consider key issues arising in those and related insolvent trading proceedings and from the judgment handed down on 17 August 2021.[1] A summary of the relevant background to the Arrium proceedings, some key terms and the key issues…

Welcome to issue #5 of our Arrium Series, where senior members of the Baker McKenzie team involved in the successful defence of proceedings against the former CFO, former Treasurer and other former employees of the Arrium Group, consider key issues arising in those and related insolvent trading proceedings and from the judgment handed down on 17 August 2021.[1] A summary of the relevant background to the Arrium proceedings, some key terms and the key issues…

Welcome to issue #4 of our Arrium Series, where senior members of the Baker McKenzie team involved in the successful defence of proceedings against the former CFO, former Treasurer and other former employees of the Arrium Group, consider key issues arising in those and related insolvent trading proceedings and from the judgment handed down on 17 August 2021.[1] A summary of the relevant background to the Arrium proceedings, some key terms and the key issues…

Welcome to issue #3 of our Arrium Series, where senior members of the Baker McKenzie team involved in the successful defence of proceedings against the former CFO, former Treasurer and other former employees of the Arrium Group, consider key issues arising in those and related insolvent trading proceedings and from the judgment handed down on 17 August 2021.[1] A summary of the relevant background to the Arrium proceedings, some key terms and the key issues…

Welcome to issue #2 of our Arrium Series, where senior members of the Baker McKenzie team involved in the successful defence of proceedings against the former CFO, former Treasurer and other former employees of the Arrium Group, consider key issues arising in those and related insolvent trading proceedings and from the judgment handed down on 17 August 2021.[1] A summary of the relevant background to the Arrium proceedings, some key terms and the key issues…

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…

1. Introduction As in other jurisdictions, Russia’s insolvency legislation is based on the pari passu principle. However, this principle is subject to certain exceptions, specifically with respect to shareholders and other non-arm’s length creditors, such as the controlling persons of an insolvent company (“Affiliated Creditors”). In practice, Affiliated Creditors use other instruments (e.g. loans, intergroup supplies etc.) to have their claims listed in the creditors’ register of an insolvent company. First, this enables such creditors…