Buy custom HK cross border insolvency regime
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| Topic: |
Business
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| Number of pages / Number of words: |
16 / 4436 |
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Some jurisdictions apply the law of the main place of establishment to the insolvency of all entities within a group of companies affected by the insolvency while some countries do not have any provisions addressing the insolvency of a group of companies.
As the jurisdictions are not harmonized in all countries, we have to consider which country’s laws should apply to a particular issue, which country’s courts are competent to deal with a specific matter, as well as whether a judgment or decision made by a judicial authority recognized and enforceable in a specific other country...
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Therefore, in order to protect the creditors, we should avoid the incentive for companies to transfer their assets one country to another.
3.3 “Forum Shoppingâ€
Forum shopping is the informal name given to the practice adopted by some litigants to get their legal case heard in the court thought most likely to provide a favorable judgment...
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