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AlixPartners LLC | China | 13 Sep 2021

While the cat's away: assessing risk in dynamic environments

Risks are always heightened during times of significant change. Given the amount of disruption to business models, supply chains and working practices that the covid-19 pandemic has caused, it is critical for organisations to fully and proactively assess risks. However, with China maintaining strict quarantine requirements, this poses a unique set of challenges for organisations where key......
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Clasis Law | India | 31 Aug 2021

Can courts adjourn proceedings if arbitral tribunals fail to address primary issues?

The Airports Authority of India approached the Delhi High Court to set aside an arbitral award passed in favour of Bentwood Seating Systems (BSS) Pvt Ltd under section 34 of the Arbitration and Conciliation Act 1996. BSS filed an application under section 34(4) of the act, seeking an adjournment of the petition so that the arbitral tribunal could resume proceedings and provide further reasons......
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RPC | Hong Kong | 10 Aug 2021

Calling time on fraud exception to summary judgment

A recent judgment is another reminder of the fraud exception to summary judgment in Hong Kong. The exception acts as a jurisdictional hurdle to the grant of summary judgment in a writ action where a plaintiff's claim is based on an allegation of fraud. The ambit of the fraud exception has been the subject of much criticism, especially given the prevalence of email and other similar frauds as......
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Luther Rechtsanwaltsgesellschaft | Luxembourg | 16 Apr 2019

Court of Appeal rules on enforcement of pledge versus insolvency proceedings and fraud

A Court of Appeal decision appears to have definitively removed any possibility of effectively challenging a transfer of ownership of pledged assets in an enforcement scenario on the basis of fraud, including manifest fraud by the pledgee. This is in contrast to a 2013 Luxembourg District Court decision and the general practice to date, which has been to consider the facts on a case-by-case......
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Ogier | Cayman Islands | 4 Apr 2019

Latest interpretation of illegality defence

A Cayman court recently considered numerous complex areas of the law concerning commercial fraud and the ability to trace assets through corporate groups and into sophisticated financial products. This article discusses the court's findings regarding the illegality defence and the lessons which can be derived for future Cayman cases in which this defence might be engaged.
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Ogier | Cayman Islands | 31 Jan 2019

Court of Appeal overturns anti-suit injunction in favour of Argyle Funds SPC Inc

The Court of Appeal has unanimously allowed every ground of an appeal by the liquidators of Argyle Funds SPC Inc. The key takeaway for the Cayman Islands professional services industry is that where work is delegated to be carried out by related entities outside the Cayman Islands, any attempt to contractually limit clients' rights to bring claims against those entities must be expressly......
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RPC | Hong Kong | 15 Jan 2019

Email scams and related recovery litigation

In a series of recent judgments, the first-instance courts in Hong Kong have demonstrated an increasing flexibility in assisting victims of internet and email fraud, including granting declaratory relief without trial. The courts' increasing willingness to grant declaratory relief without trial in these circumstances is a significant step in the right direction, as it has simplified the civil......
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Wikborg Rein | United Kingdom | 19 Dec 2018

Clarity on barratry – exceptions in Hague-Visby Rules under scrutiny in Commercial Court

A 2017 Commercial Court judgment clarifies the concept of barratry and confirms that there is no qualification to fire when seeking to rely on the fire defence under the Hague or Hague-Visby Rules (assuming that the vessel is seaworthy and that the fire was not caused by the actual fault or privity of the owner). It also confirms that, absent fire, an owner cannot escape liability for......
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ALTIUS | Belgium | 7 Dec 2018

Effects of bankruptcy on spouses' personal debts

The former Bankruptcy Statute of 1997 included a principle that a natural person could be discharged of their remaining and outstanding debts – a so-called 'waiver' – at the moment of a bankruptcy's closure. The discharge's beneficial effects were extended to the bankrupt person's spouse. However, for bankruptcies that have happened since 1 May 2018, and so fall under the new legal framework,......
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Elias Neocleous & Co LLC | Cyprus | 4 Dec 2018

Supreme Court judgment on appointment of IT experts

The Supreme Court recently issued an innovative judgment relating to Norwich Pharmacal orders which demonstrates the Cyprus courts' readiness to stay abreast of technological developments. The claimant alleged that he was the victim of fraud and conspiracy in connection with online foreign currency trading. The Supreme Court upheld the first-instance decision to appoint an independent......
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