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TW_TL4_FIRE_Magazine_Issue_14.pdf
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🔗 Source: twentyessex.com
📊 Size: 461 KB
📄 Pages: 2 pages
⬇️ Downloads: 152

Summary

The English Courts' approach to deciding bankruptcy or winding-up petitions based on disputed debts subject to resolution in another forum is inconsistent. In cases involving arbitration clauses, the Court of Appeal has discretionarily stayed petitions to compel parties to resolve disputes through arbitration, as seen in Salford Estates (No 2) Ltd v Altomart Ltd (No 2) [2015]. However, in cases involving Exclusive Jurisdiction Clauses (EJCs) in favor of foreign courts, the English Court of Appeal has held that the existence of an EJC does not affect the court's determination of whether a debt is bona fide disputed on substantial grounds, as seen in BST Properties Ltd v Reorg-Apport Penzugyi RT [2001]. This approach is in contrast to the Hong Kong Court of Final Appeal's decision in Guy Lam, which adopted a discretionary approach similar to Salford for EJCs. The author hopes that the UK Supreme Court will harmonize the approach for EJCs with the Salford approach for arbitration agreements, following the Guy Lam decision.

Description

The English Courts' approach to deciding bankruptcy or winding-up petitions based on disputed debts subject to resolution in another forum is inconsistent.

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  • File Format: PDF
  • File Size: 461 KB
  • Pages: 2
  • Language: EN
  • Total Downloads: 152
  • Last Updated: 1 month ago

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