Regional news: Asia-Pacific
Creditor found liable for trustees’ fees after bankruptcy order annulled in Hong Kong
A year after it issued a first-of-its-kind judgment overturning a personal bankruptcy order in the face of an exclusive jurisdiction clause, the Hong Kong Court of Appeal has allowed Chinese businessman Guy Kwok-Hung Lam to pursue the creditor that made him bankrupt for the fees incurred by his trustees.
26 September 2023
Evergrande scraps scheme meetings
Evergrande’s scheme meetings have been postponed indefinitely after the long-beleaguered Chinese property developer announced it needed to reassess the terms of its restructuring.
25 September 2023
Privy Council stays Cayman winding-up in favour of arbitration
The Privy Council in London has held that a Cayman winding up petition against the operator of a billion-dollar Chinese convenience store business should be stayed because the matters at the heart of the petition fall within the scope of a Beijing-seated arbitration clause.
25 September 2023
Sunac seeks US recognition after Hong Kong scheme approval
Chinese real estate developer Sunac has sought Chapter 15 recognition in New York, one day after creditors voted to support a Hong Kong scheme dealing with US$9 billion of its offshore debt.
19 September 2023
IWIRC reveals Asia Women of the Year for 2023
The International Women's Insolvency and Restructuring Confederation has named Nishimura & Asahi partner Yuri Sugano as its Asia Woman of the Year in Restructuring for 2023, at its first international conference outside North America.
19 September 2023
HK court reaffirms COMI approach as ex-director challenges liquidators in the BVI
A Hong Kong court has granted interim relief to the local, COMI-appointed liquidators of China Properties Group against opposition from an ex-group director who claimed it would interfere with the jurisdiction of the courts in the British Virgin Islands, the place of incorporation of some of the group’s subsidiaries.
18 September 2023
Sunac creditors back offshore restructuring scheme
Creditors holding US$9 billion of struggling Chinese real estate developer Sunac’s offshore debt have voted to approve a Hong Kong scheme that will see them swap their claims for new notes, convertible bonds and equity.
18 September 2023
Business turnaround following the covid-19 pandemic in Japan
Featured in Asia-Pacific Restructuring Review 2024
15 September 2023
Major developments in China’s surging restructuring market
Featured in Asia-Pacific Restructuring Review 2024
15 September 2023
Latest developments in Hong Kong restructuring law
Featured in Asia-Pacific Restructuring Review 2024
15 September 2023