Reading Time: 5 minutesIntroduction In cross-border insolvency, there are two contrasting approaches. On the one hand, there is the territorial approach, focused primarily on the interest of the local creditors.[1] On the other, there is the universal approach, where one court leads the administration of the insolvency proceedings, and other courts cooperate with the main action.[2] For the […]
Does removing an insolvent party from a joint venture infringe the anti-deprivation rule?
Reading Time: 5 minutesIntroduction The Court of First Instance analysed whether a clause within a joint venture agreement between a company in liquidation and an interested party should be void for being classified as “disposition” under section 182 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32). Build King Construction Ltd (“BK”) formed a joint venture […]