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In the recent case of Re CEFC Shanghai International Group Limited [2020] HKCFI 167, with reasons for its decision delivered on 13 January 2020, the Hong Kong Court granted its first recognition order of Administrators appointed in the Mainland. The possibility of such recognition has been a popular subject amongst restructuring professionals in Hong Kong for some time and has formed a lively subject topic for debate at recent industry conferences. The question now is how this will be developed going forward.

In Auden McKenzie (Pharma Division) Ltd v Patel [2019] EWCA Civ 2291, the English Court of Appeal considered an important issue regarding equitable compensation: whether a defaulting trustee or other fiduciary can resist a claim for compensation for loss caused by his default on the basis that had he not done what he did improperly, he would have achieved the same result properly, so that the position of the trust or other person to whom fiduciary duties were owed, would have been the same.

In the recent decision of In the Matter of Inmarsat Plc [2019] EWHC 3470 (Ch), the English High Court considered the requirements for an explanatory statement (ES) to a scheme of arrangement to satisfy section 897(2) of the Companies Act 2006.

In Delaware, like in the Cayman Islands, shareholders have the right to dissent from a merger and demand “fair value” for their shares as determined by the Court.  A string of decisions from the Delaware Courts in the latter part of 2019 suggest a shift away from DCF towards market-based valuation approaches in appraisal proceedings.

A recent decision of the English High Court has highlighted the perilous consequences for a litigant who does not provide full and frank disclosure to the Court in an ex parte application, a decision which will be of keen interest to offshore practitioners.

A recent decision of the Court of Appeal of the Eastern Caribbean Supreme Court affirmed that liquidators of BVI companies can obtain retrospective sanction from the BVI Court.