Topic: Insolvency

The interplay of insolvency and arbitration in Hong Kong

Sarah Thomas and Jessica Chan of Morrison & Foerster consider a recent decision by the Hong Kong Court of Appeal indicating that Hong Kong’s pro-arbitration public policy does not require the territory’s courts to refrain from exercising their insolvency jurisdiction solely because the parties have an arbitration agreement.

23 August 2019

Insolvent port operator seeks to collect on ICSID award

The liquidators of a French transport and logistics group have applied to a US court to enforce an ICSID award against Guinea – three years after the bulk of its €110 million claim over a terminated port concession was dismissed.

13 August 2019

South African court orders halt to Zambian liquidation proceedings

The High Court of South Africa has granted Vedanta Resources an injunction against a Zambian state-owned entity to prevent the liquidation of their copper-mining joint venture pending an international arbitration in Johannesburg.

23 July 2019

Yukos bankruptcy denied recognition in the Netherlands

The Dutch Supreme Court has confirmed that a Russian judgment declaring the bankruptcy of Yukos should be denied recognition on public policy grounds, ending a long-running battle for control of the Russian oil company’s international assets.

21 January 2019

Agfa-Gevaert win ends saga over insolvent camera film business

Belgian multinational Agfa-Gevaert has defeated an ICC claim for more than €410 million plus substantial interest brought by the bankruptcy receiver of its spin-off consumer imaging business – potentially bringing an end to a decade-old dispute that has led to parallel arbitrations and court proceedings worth in excess of a billion euros.

11 June 2018

Mexico faces NAFTA threat over insolvent oil driller

Investors in an oil drilling company that became insolvent after its contracts with Mexico's national oil company Pemex were cancelled have threatened the state with a US$700 million NAFTA claim.

11 April 2018

UNCITRAL to consider impact of insolvency

The United Nations Commission on International Trade Law is to review a paper on the impact of insolvency on international arbitrations when it convenes in Vienna in July, with a view to creating clarity as to how the two intersect and even exploring the use of arbitration for cross-border insolvency proceedings.

09 December 2016

Senior UK judge reflects on Brexit and insolvency

The newly appointed head of the Chancery Division of the English High Court has expressed confidence that the UK will remain a world leader for international commercial arbitration post-Brexit and mused on its use in insolvency disputes – including whether it should be able to delay a winding-up petition.

11 November 2016

Lebanese creditor prevails against Congo

An ICC panel has ordered the Republic of the Congo to pay €550 million plus costs to a Lebanese-owned company to honour a 30-year old debt – weeks after the central African state's courts put the claimant into liquidation.

07 February 2013

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