Posts Tagged modified universalism
Many thanks to Filbert Lam for alerting me to Menon CJ’s most exquisite 2018 speech on cross-border insolvency law. His honour’s talk addresses forum shopping (including for cram down reasons), the Model Law, a most enlightening comparison between international commercial arbitration (particularly: the New York Convention’s role) and insolvency, and of course modified universalism (on which see also this recent post by Bob Wessels, with ia analysis of the EU position). A delightfully sharp observation of key elements of international insolvency practice and policy.
(Handbook of) EU Private International Law, 2nd edition 2016, Chapter 5.
Supreme Tycoon: common law power to recognise and assist foreign insolvency proceedings extends to voluntary liquidations.
Thank you colleagues at Hogan Lovells for flagging  HKCFI 277 Supreme Tycoon in which the Hong Kong Court of First Instance ruled that the common law power to recognise and assist foreign insolvency proceedings extends to voluntary liquidations.
In so ruling, the court rejected the Privy Council obiter finding in Singularis. (see the HL link above) highlight the Court’s rather convincing arguments in not following the Privy Council, including one I like a lot namely that the principle of modified universalism, the rationale underlying the common law power of assistance, and the purpose of cross-border insolvency assistance do not prima facie call for a distinction between compulsory and voluntary winding-up.
(Handbook of) EU Private International Law, 2nd ed. 2016, Chapter 5, Heading 5.1.