Everything old is new again
Litigation & Insolvency

Everything old is new again

In the landmark 2014 decision of Salford Estates (No. 2) Limited v Altomart Limited, the English Court of Appeal held that where a debt arises under a contract containing an arbitration agreement, a winding up petition brought on that debt ought to be dismissed in favour of arbitration so long as the debtor merely does not admit that the debt is owed. The Court of Appeal added that this position could only be displaced by “wholly exceptional” circumstances. The ramifications of the decision on insolvency proceedings were significant and ever since, the interface between arbitration and insolvency has continued to demand attention from common law Courts worldwide.
Harneys advises on Lakeshore Acquisition I Corp US$50 million SPAC IPO
Corporate

Harneys advises on Lakeshore Acquisition I Corp US$50 million SPAC IPO

Harneys acted as counsel to Lakeshore Acquisition I Corp in relation to its listing on the Nasdaq Capital Market under the ticker symbol "LAAAU" beginning 11 June 2021. Its initial public offering of 5,000,000 units is at an offering price of US$10.00 per unit.
Fraud unravels everything – how the BVI Courts can assist
Litigation & Insolvency

Fraud unravels everything – how the BVI Courts can assist

Fraudsters sometimes choose offshore vehicles in their illegal schemes under the mistaken belief that the misappropriated assets will not be found or that the victims of fraud will not be able to identify the fraudsters. This is completely wrong, say Christopher Pease, Paula Kay and Strachan Gray. The BVI Courts apply a well-known legal maxim originally developed by the English Courts in Lazarus Estates v Beasley [1956] 1 QB 702 at 712: “No Court in this land will allow a person to keep an advantage which has been obtained by fraud... fraud unravels everything.”
Harneys advises on the acquisition of Grail Insights by Symphony Technology Group
Corporate

Harneys advises on the acquisition of Grail Insights by Symphony Technology Group

Harneys acted as British Virgin Islands counsel to Symphony Technology Group in relation to the BVI aspects of its leveraged acquisition of Grail Insights from NewQuest Capital Partners by STG group company Escalent.
Why the Future of Private Capital Lies in the East
Investment Funds

Why the Future of Private Capital Lies in the East

In this special report, co-published by Preqin, Asia Head of Funds and Regulatory Maggie Kwok explores why the future of private capital lies in the East and why navigating regulatory issues will be a key consideration for investors managing the record US$1.6 trillion in private capital assets earmarked for the region.