One misplaced letter in an email address caused the Hong Kong High Court to refuse leave to enforce an arbitral award on the basis that the respondent not been validly served with the Notice of Arbitration. This was despite...more
The United States (U.S.) Securities and Exchange Commission (SEC) has passed new rules imposing new requirements and obligations on the private fund industry. Whilst the rules are significantly less onerous than originally...more
A public consultation on a new regulatory framework for single family offices in Singapore closes on 30 September 2023. The proposed new framework will introduce qualifying criteria for class exemption from licensing under...more
Three recent Hong Kong first instance court decisions have left undecided the question of whether a winding-up petition will trump an agreement to arbitrate when it comes to a winding-up and particularly in the context of...more
The Hong Kong court has ruled that a tribunal had no jurisdiction over a third party that had been joined as an additional party to an HKIAC arbitration. The court in R v A [2023] HKCFI 2034 ordered that a summons issued by...more
Billions of dollars worldwide are pouring into the transition to green energy, no more so than in the United States (U.S.) where new legislation is providing a powerful stimulus. For Australian investors, the opportunity to...more
The UK Supreme Court in Philipp (Respondent) v Barclays Bank UK Plc (Appellant) [2023] UKSC 25 has confirmed that the so-called "Quincecare duty" – a duty on a bank to refrain from executing a payment instruction from its...more
The Hong Kong court has handed down a significant decision on the issue of whether an individual bondholder under a global note can present a winding up petition against a bond issuer. The court in Re Leading Holdings Group...more
In C v D [2023] HKCFA 16, the Hong Kong Court of Final Appeal confirmed that compliance with pre-arbitration conditions in an escalation clause is a matter of admissibility, rather than a jurisdictional issue, and is not...more
The submission window on a second Australian government consultation paper on climate change disclosure closed on 21 July 2023. Climate-related disclosure obligations look set to be introduced in three phases from 2024...more
The Australian government has published its long-awaited Critical Minerals Strategy 2023-2030. The strategy says that the country’s critical minerals sector is well placed to seize the opportunities of the clean energy...more
In the case of Re Guangdong Overseas Construction Corporation [2023] HKCFI 1340, the Honourable Madam Justice Linda Chan recognized and provided assistance to a mainland China appointed administrator over a mainland China...more
A Hong Kong court has awarded a trustee enforcing obligations under a keepwell deed more than US$489 million after finding the keepwell provider to be in breach. The decision by the Honourable Mr Justice Harris in Citicorp...more
Luxembourg is the largest centre for funds in the world outside the United States (U.S.). The country offers much for Australian PE investors. We look at what makes it so attractive....more
A Hong Kong court has reminded debtors of the need to present a credible and realistic restructuring proposal when facing creditors threatening winding up actions. In Re Jiayuan International Group Limited (佳源國際控股有限公司) [2023]...more
In the latest development regarding the validity and enforceability of keepwell deeds in the "Peking Founder” litigation, a Hong Kong court has awarded more than US$164 million by way of damages to one of the plaintiffs who...more
The Hong Kong Court of Final Appeal (CFA) has confirmed a Court of Appeal finding that the court should respect the effect of an exclusive jurisdiction clause in bankruptcy proceedings, just as it does in ordinary civil...more
The Hong Kong Court of Appeal has overturned a first instance judgment that had held that the longstanding use of "letters of no consent" to preserve monies held in bank accounts suspected of harbouring the proceeds of crime,...more
A Hong Kong court has for the first time declared that cryptocurrencies are property and capable of being held on trust. In a landmark ruling, the Honourable Madam Justice Linda Chan, in Re Gatecoin Limited [2023] HKCFI 91,...more
A Hong Kong court has set aside an HKIAC Final Award finding that the arbitrator's conduct was so "seriously flawed" and "egregious" that there had been a serious denial of due process....more
In another blow to the concept of "soft touch" provisional liquidation, the Court of First Instance has granted an ancillary winding up order against a Hong Kong listed company that had already been wound up in its place of...more
The GP-led secondaries market is relatively new to Australia but recent transactions show the trend is here to stay. Continuation Funds avoid the need for forced exits from Funds and help provide liquidity. Yet since the GP...more
Parties to an arbitration only need to be given a "reasonable" opportunity to present their case and to address the cases of their opponents under the Hong Kong Arbitration Ordinance. So ruled the Honourable Justice Mimmie...more
Hong Kong’s last remaining independent airline carrier, Hong Kong Airlines Limited has undergone a significant debt restructuring. In parallel proceedings (a restructuring plan in the UK and a scheme of arrangement in Hong...more
Two recent English and Hong Kong court decisions have given confidence to lenders that they should be able to enforce their rights against creditors under so-called asymmetric or hybrid dispute resolution clauses....more