A recent ruling by the Hong Kong Court of Appeal has strengthened the robustness of keepwell deeds as enforceable English law governed obligations.
The Hong Kong Court of Appeal has unanimously upheld the appeals of the liquidators of offshore bond-issuance companies (the appellants) of the Peking University Founder Group Company Limited (PUFG) concerning whether PUFG, as the keepwell provider, breached the keepwell deeds which support the bonds.
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