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In the Matter of the Companies Law (2013 Revision) and in the Matter of Rightway China Real Estate Limited and in the Matter of the Companies Law (2013 Revision) and in the Matter of Dash Limited, Cause Nos. FSD 130 and 131 of 2013, per Henderson J

February 2014 Insolvency Winding Up Liquidation

CAYMAN ISLANDS

GRAND COURT

WINDING UP - STANDING TO WIND UP A COMPANY IF FINANCE DOCUMENTS CONTAIN AN EXCLUSIVE JURISDICTION CLAUSE FOR A JURISDICTION OTHER THAN THE CAYMAN ISLANDS

The Petitioners are a group of lenders in a syndicated loan arrangement. The loan had been in default for some time and the Petitioners sought a winding up of the debtors, Rightway China Real Estate Limited and Dash Limited.

The fundamental question which the Court had to decide was whether the Petitioners had standing under the finance documents to seek a winding up of the borrowers and its guarantor when the majority of the lenders by value are opposed to that course and in circumstances where the creditors had agreed that a foreign court (Hong Kong) has exclusive jurisdiction to decide questions of law arising from the finance documents according to the Law of Hong Kong.

 

To continue reading full articles in PDF format:
In the Matter of the Companies Law (2013 Revision) and in the Matter of Rightway China Real Estate Limited and in the Matter of the Companies Law (2013 Revision) and in the Matter of Dash Limited, Cause Nos. FSD 130 and 131 of 2013, per Henderson J

 

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EDITOR & HEAD OF LITIGATION BERMUDA

Christian R. Luthi
Tel: +1 441 298 7814
Email: christian.luthi@conyersdill.com


Head of Litigation British virgin islands

Mark J. Forte
Tel: +1 284 852 1113
Email: mark.forte@conyersdill.com


Head of Litigation Cayman Islands

Paul Smith
Tel: +1 345 814 7777
Email: paul.smith@conyersdill.com


HEAD OF THE ASIA DISPUTES & RESTRUCTURING GROUP

Nigel K. Meeson, QC
Tel: +852 2842 9553
Email: nigel.meeson@conyersdill.com

Offshore Cases

In the Matter of the Companies Law (2013 Revision) and in the Matter of Rightway China Real Estate Limited and in the Matter of the Companies Law (2013 Revision) and in the Matter of Dash Limited, Cause Nos. FSD 130 and 131 of 2013, per Henderson J

18 February 2014

CAYMAN ISLANDS

GRAND COURT

WINDING UP - STANDING TO WIND UP A COMPANY IF FINANCE DOCUMENTS CONTAIN AN EXCLUSIVE JURISDICTION CLAUSE FOR A JURISDICTION OTHER THAN THE CAYMAN ISLANDS

The Petitioners are a group of lenders in a syndicated loan arrangement. The loan had been in default for some time and the Petitioners sought a winding up of the debtors, Rightway China Real Estate Limited and Dash Limited.

The fundamental question which the Court had to decide was whether the Petitioners had standing under the finance documents to seek a winding up of the borrowers and its guarantor when the majority of the lenders by value are opposed to that course and in circumstances where the creditors had agreed that a foreign court (Hong Kong) has exclusive jurisdiction to decide questions of law arising from the finance documents according to the Law of Hong Kong.

 

To continue reading full articles in PDF format:
In the Matter of the Companies Law (2013 Revision) and in the Matter of Rightway China Real Estate Limited and in the Matter of the Companies Law (2013 Revision) and in the Matter of Dash Limited, Cause Nos. FSD 130 and 131 of 2013, per Henderson J

 

 

EDITOR & HEAD OF LITIGATION BERMUDA

Christian R. Luthi
Tel.: +1 441 298 7814
Email.: christian.luthi@conyersdill.com


Head of Litigation British virgin islands

Mark J. Forte
Tel.: +1 284 852 1113
Email.: mark.forte@conyersdill.com


Head of Litigation Cayman Islands

Paul Smith
Tel.: +1 345 814 7777
Email.: paul.smith@conyersdill.com


HEAD OF THE ASIA DISPUTES & RESTRUCTURING GROUP

Nigel K. Meeson, Q.C.
Tel.: +852 2842 9553
Email.: nigel.meeson@conyersdill.com