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Business Restructuring and Insolvency 2020 Year in Review: Key insolvency decisions in HK and PRC
17 December 2020
2020 was a groundbreaking year with significant developments in court-led corporate rescue and the prospect finally of insolvency law reform in Hong Kong. The groundwork was laid for reciprocity and recognition between Hong Kong and the mainland through a series of innovative court decisions. Banks relying on 'hybrid' jurisdiction clauses in their finance agreements took a knock when a Hong Kong court rejected enforcement of a judgment debt in the mainland. Faring better, though, were holders of offshore debt from Chinese issuers when a Shanghai court ruled that "keepwell" agreements may be enforceable under the PRC Enterprise Bankruptcy Law. Our review of 2020 brings you right up-to-date with the latest developments in restructuring and insolvency law in Hong Kong and the mainland.
Download 2020 Year in Review - Key insolvency decisions in Hong Kong and PRC here.
Authored by Jonathan Leitch, Andrew McGinty, Phoebe Yan, and Nigel Sharman
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