Topic: Enforcement
Debts unenforceable in UAE can be enforced in the UK, English court says
There is no common law impediment to enforcing a UAE monetary judgment in the UK that cannot be enforced in the UAE, a Deputy High Court Judge has found, declining to set aside an English default judgment issued against a Lebanese businessman on the basis of personal guarantees that are unenforceable in Abu Dhabi.
22 September 2023
UAE bank turns to UK after Abu Dhabi court declares personal guarantees unenforceable
The English High Court has been asked to consider whether it can enforce two UAE judgment debts that became unenforceable in Abu Dhabi when a recent law limiting the use of personal guarantees was applied retroactively.
19 September 2023
Hong Kong claims may proceed against entity in BVI liquidation
A Hong Kong national may continue to pursue local injunctions against a company that is in liquidation in the British Virgin Islands, after a Hong Kong court declined to stay his actions in favour of the Eastern Caribbean Supreme Court.
27 June 2023
Hong Kong Airlines hit with HK$56.3 million injunction
Hong Kong Airlines has been ordered to hold HK$56.3 million on trust after failing to convince a Hong Kong court that a construction group’s claim for breach of contract against it was discharged when the airline’s dual Hong Kong-UK restructuring became effective last month.
30 May 2023
BFAM fund seeks novel turnover order against scandal-hit Chinese group
A hedge fund that holds offshore notes issued by a Chinese beverage group has stepped up its efforts to enforce a US$114 million judgment it obtained in New York last year, marking the latest in a series of recovery actions it has brought against defaulting Chinese companies over the last 18 months.
19 May 2023
UAE national cannot dodge Dubai personal guarantee, English court rules
Government-owned bank Emirates NBD has been permitted to enforce a Dubai court order in London against a UAE national who personally guaranteed a corporate loan, then transferred his UK assets to his son when the bank sought to enforce the debt.
17 May 2023
Former Baccarat owner fails to annul Hong Kong bankruptcy
The former owner of French luxury crystal manufacturer Baccarat has been rebuked by a Hong Kong court for failing to comply with a bankruptcy order and offering “incredible” explanations for her conduct.
14 March 2023
Foreign creditors violated Avianca’s Ch11 plan, New York court finds
Latin American airline Avianca has asked a New York court to make a first-of-its-kind order sanctioning over 160 foreign creditors for violating the injunction terms of its Chapter 11 plan.
19 January 2023