Akin Gump Lawyers Analyze Court Decision on Interaction Between Hong Kong and Singapore Insolvency Frameworks
Contact:
IFLR has published the article “The crossing of paths,” written by Akin Gump financial restructuring partner Naomi Moore, litigation partner Daniel Cohen and financial restructuring associate Brian Or.
The article recounts a move last year by Singapore to introduce “sweeping changes to its legislative framework for insolvency and restructuring, driven by a desire to position itself as a hub for international debt restructuring.” The authors write, however, that, while Singapore “has moved forward rapidly with extensive reforms to its insolvency laws, the same can’t be said for Hong Kong.”
Moore, Cohen and Or discuss a decision by the High Court of Hong Kong concerning CW Advanced Technologies Limited, in which the court “considered the intersection of the Singapore and Hong Kong insolvency frameworks.” The ruling, they say, “is likely to be of particular significance for multinational corporate groups and their creditors seeking to implement a restructuring involving, among others, the Hong Kong and Singapore jurisdictions.”
To read the full article, please click here.
