Herbert Smith Freehills publishes Guide to Restructuring, Turnaround and Insolvency in Asia Pacific 2016

Herbert Smith Freehills has launched the new Guide to Restructuring, Turnaround and Insolvency in Asia Pacific (Guide). The Guide provides an overview of the laws relating to corporate restructuring, turnaround and insolvency (RTI) in 14 major jurisdictions across the Asia Pacific region. It is aimed at providing an understanding of the legal framework in each … Read more

Recognition of foreign insolvencies at common law: Singapore sets COMI precedent

For the first time, a court has adopted the ‘centre of main interest’ (COMI) as grounds at common law to recognise foreign insolvency proceedings. The decision earlier this year by the High Court of Singapore (the Court) recognised a Japanese bankruptcy trustee appointed to companies incorporated in the British Virgin Islands (BVI): which primarily operated … Read more

Better late than never: amendments to the Companies (Winding Up and Miscellaneous Provisions) Ordinance gazetted

By now, you will all be aware of the recently gazetted the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 ("Amendment Ordinance"), heralding as it does a much anticipated refreshment and modernisation of the Companies (Winding Up and Miscellaneous Provisions) Ordinance ("CWUMPO") and the Companies (Winding up) Rules ("CWUR"). Given that the last major … Read more

Hong Kong: Court of First Instance clarifies test for adding debts accrued after presentation of a creditors’ winding up petition

In Re Hin-Pro International Logistics Limited[1], the Hong Kong Court of First Instance held that it has jurisdiction to grant leave to amend a creditor's winding up petition to include debts accrued only after its presentation. The Court adopted the relevant legal test set out in Re Richbell Strategic Holdings Limited[2] and rejected the more … Read more