Bankruptcy

Bankruptcy, Bermuda, BVI, Cayman Islands, China, Claims Trading, Enforcement, HK Arbitration Week, Hong Kong, Insolvency, Singapore

, (Allen & Overy)/ /Leave a comment
HK45

Allen & Overy’s webinar on the second day of Hong Kong Arbitration Week 2022 brought together six practitioners from the fields of arbitration, insolvency and enforcement to discuss the key practical and strategic considerations when acting for and against parties in financial distress. Guided through a hypothetical case study involving jurisdictions such as Hong Kong,…

Arbitration, Bankruptcy, Turkey, Turkish Court of Cassation

, (Başgül Avukatlık Bürosu)/ /Leave a comment

The General Assembly of the Civil Chambers of Turkish Court of Cassation (“Court”) rendered a controversial decision on 21 December 2021 with No. K.2021/1710 (“Decision”). The Decision provides that, notwithstanding a valid arbitration agreement, Turkish courts, not arbitrators, shall have jurisdiction to determine whether an alleged debtor, against whom a bankruptcy proceeding has been initiated,…

Bankruptcy, Bankruptcy and arbitration, Insolvency, Switzerland

, (rothorn legal)/ /Leave a comment

The economic havoc wreaked by the Covid-19 pandemic has resulted in a 10-year high of corporate bankruptcies in the United States in 2020. While bankruptcy levels across Europe have fallen amid the pandemic, a sharp spike in corporate bankruptcies is expected as economic support programs phase out in the coming months. This will increase the…

Bankruptcy, Brazil, COVID-19, Insolvency, International Commercial Arbitration, Latin America

(Quinn Emanuel Urquhart & Sullivan, LLP)/ /Leave a comment

On 24 December 2020, the New Brazilian Insolvency Act (“NBIA” – a slight misnomer, as the Act is in fact an amendment to an existing statute) was published in the official Brazilian gazette. The act implements important modifications in the field, including a few related to arbitration, which came into force on 23 January 2021….

Bankruptcy, Bankruptcy and arbitration, COVID-19, Insolvency, Latin America

(Herbert Smith Freehills LLP)/ /Leave a comment
Herbert Smith Freehills

One of the many consequences of the Covid-19 pandemic and the world-wide economic crisis has been the sharp increase of insolvency filings before national courts. Latin America is no stranger to this situation, having been part of the surge in business insolvencies. Brazil, in particular, has been a recent insolvency hotspot within Latin America. This…

Arbitration, Arbitration Agreements, Bankruptcy, Bankruptcy and arbitration, Russia

(KIAP, Attorneys at Law)/ /1 Comment

The Russian Supreme Court recently rendered a decision declaring disputes on challenging agreements with banks in a special financial situation, called by lawyers – “troubled” banks, as non-arbitrable [Bank Trust v. Fosint Ltd., decision dated 16 August 2016 number 305-ЭС16-4051] (“Trust case”). In this case, a “troubled” bank, meaning a bank in which a temporary…

Arbitration, Bankruptcy, Denial of justice, Hungary, Investment Arbitration

(Horvath & Partners DLA Piper, Hungary)/ /1 Comment

Introduction Dan Cake, a Portuguese company and one of the biggest biscuit producers in the world, invested in Hungary by acquiring a Hungarian company’s shares, later named as Danesita. Although Dan Cake had envisaged the expansion of its business to South East Europe too through this investment, after a couple of years, the plan failed…