Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Features

China and Hong Kong Worked Out: Imagine there’s no countries

China and Hong Kong Worked Out: Imagine there’s no countries

18 July 2019

“One country, two systems” is the principle governing Hong Kong and China’s constitutional arrangements. But their two restructuring and insolvency regimes haven’t always worked that well together. Now both jurisdictions are looking at a mutual recognition regime for insolvency matters and considering new measures for the recognition of foreign proceedings.

China and Hong Kong Worked Out: Singapore’s challenge to Hong Kong

China and Hong Kong Worked Out: Singapore’s challenge to Hong Kong

18 July 2019

A new restructuring regime in Singapore is shining the light on Hong Kong’s lack of a statutory regime at home.

“Things have worked because they had to”: restructuring without a regime in Hong Kong

“Things have worked because they had to”: restructuring without a regime in Hong Kong

18 July 2019

Part of our "China and Hong Kong Worked Out" series: Hong Kong’s restructuring practitioners are, by necessity, creative. Without a restructuring and insolvency regime beyond the scheme of arrangement inherited from the British, practitioners have a “make-do-and-mend” approach aided by a supple judiciary and a can-do attitude among professionals.

China and Hong Kong Worked Out: Headwinds and opportunities in China

China and Hong Kong Worked Out: Headwinds and opportunities in China

18 July 2019

As a trade war with the US puts a squeeze on many Chinese industries, the government is pursuing a US$1 trillion-plus global investment project set to dramatically expand its cross-border engagement. Is this a perfect storm for the cross-border restructuring market?

China and Hong Kong Worked Out: Night of the living debt

China and Hong Kong Worked Out: Night of the living debt

18 July 2019

Despite the growing power of the Chinese economy, its prodigious load of non-performing loans is posing both challenges and opportunities for local restructuring practitioners.

China and Hong Kong Worked Out: Restructuring and the State

China and Hong Kong Worked Out: Restructuring and the State

18 July 2019

In China, more so than in other jurisdictions, it’s impossible to avoid the government for a restructuring of any significance – particularly municipal and local government. That’s not going to alter any time soon, but government attitudes towards company failure and restructuring are changing.

China and Hong Kong Worked Out: Changes, hopes and fears in China

China and Hong Kong Worked Out: Changes, hopes and fears in China

18 July 2019

The past five years have seen a shift in Chinese restructuring practice with the concept of reorganisation increasingly being seen as a business tool, rather than an admission of failure. But practitioners say there’s still a way to go, pointing out that creditors’ rights need to be strengthened, and personal bankruptcy remains entirely uncatered for.

Changes, hopes and fears: China and Hong Kong Worked Out

Changes, hopes and fears: China and Hong Kong Worked Out

18 July 2019

GRR presents the latest in our Worked Out series, this time profiling China and Hong Kong. With headwinds including an extraordinary non-performing loan load, slowing growth, political tensions locally, and a trade war with the US, restructuring professionals in China and Hong Kong are getting ready for what’s around the corner.

Restructuring in Turkey: A new paradigm?

Restructuring in Turkey: A new paradigm?

20 June 2019

White & Case partners Ian Wallace in London and Güniz Gökçe in Istanbul, and local partner Ateş Turnaoğlu in Istanbul, discuss the outlook for restructuring in Turkey.

Europe column: Do soft law instruments matter in the insolvency arena?

Europe column: Do soft law instruments matter in the insolvency arena?

11 June 2019

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, and Gert-Jan Boon, researcher/lecturer at Leiden University, discuss a recent, detailed study they have completed on the role of soft law instruments in restructuring and insolvency law.

Sovereign debt column: Coming into the light?

Sovereign debt column: Coming into the light?

03 June 2019

Cleary Gottlieb Steen & Hamilton partners Andrew Shutter and Sui-Jim Ho in London, and Barthelemy Faye in Paris, discuss the recent attention paid to hidden sovereign debts in the light of the scandal that has hit Mozambique – and come up with some ideas for tackling them.

Using foreign judgments to get your debt paid under India’s Insolvency and Bankruptcy Code

Using foreign judgments to get your debt paid under India’s Insolvency and Bankruptcy Code

20 May 2019

Last year, the Ghanaian branch of African bank Stanbic became the first party to use an English judgment as evidence of a debt to trigger insolvency proceedings under India’s Insolvency and Bankruptcy Code 2016. The bank’s English counsel – Thomas Williams of Sultan Al-Abdulla & Partners, and Anna Booth and Michael Lee of Womble Bond Dickinson – explain how they did it.