New Mainland-Hong Kong arrangement for reciprocal enforcement of civil and commercial judgments comes into effect today

With the Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters by the Courts of the Mainland and HKSAR (the “Arrangement“) coming into effective today, a new era in cross-border judicial cooperation between Mainland China and Hong Kong has begun. Please see here for our previous blog post discussing the key … Read more

A new chapter of mutual recognition and enforcement of judgments between Mainland and Hong Kong: Hong Kong sets a date to implement the Mainland Judgments in Civil and Commercial Matters (Reciprocal Enforcement) Ordinance (Cap. 645)

Introduction and legislative history Recently, on 10 November 2023, the Hong Kong Government announced that the Mainland Judgments in Civil and Commercial Matters (Reciprocal Enforcement) Ordinance (Cap. 645) (the “Ordinance“) will become effective on 29 January 2024. This marks a new chapter for mutual recognition and enforcement of judgments in Mainland and Hong Kong. The … Read more

When informal workouts don’t work out: English High Court rules bank that lent support to restructuring did not dishonestly assist in putting assets beyond creditors’ reach

In the current economic climate, more and more companies are getting into financial difficulties, informal workouts by debtor companies, with support from certain creditors, seem to be increasingly common. The latest English High Court decision of Henderson & Jones Ltd v Ross & Ors [2023] EWHC 1276 (Ch) highlights a possible litigation risk for the … Read more

English High Court gives guidance on the so-called creditor duty where a company faces solvency-threatening claim

When a company is in the so-called “twilight zone” approaching insolvency, it is well-established that the directors’ fiduciary duties require them to take into account interest of creditors (the so-called “creditor duty”). In the recent decision of Stephen John Hunt v Jagtar Singh [2023] EWHC 1784 (Ch), the English High Court examined whether it is necessary … Read more