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ARTICLE · 11 MARCH 2025

"Dividing Line" In Public Policy – Insolvency And Arbitration

Bryan Cave Leighton Paisner
Bryan Cave Leighton Paisner
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Bryan Cave Leighton Paisner

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A creditor commences winding-up proceedings against a debtor company on the basis that the company is insolvent. The petition debt relates to a dispute within the ambit...

United StatesLitigation, Mediation & Arbitration
Glenn Haley
Glenn Haley
Barry Wong
Barry Wong

Summary

A creditor commences winding-up proceedings against a debtor company on the basis that the company is insolvent. The petition debt relates to a dispute within the ambit of the arbitration agreement between the creditor and the debtor. Should the Court either:-

  1. Uphold the parties' agreement to arbitrate (and stay / dismiss the winding-up); or
  2. Allow the creditor to continue to pursue the debt in winding-up proceedings?

In our previous article on the topic in August 2020, we discussed Lasmos approach and the inter-relationship between arbitration and insolvency proceedings through the cases of: (1) the HKCFI case Lasmos (Lasmos Limited v Southwest Pacific Bauxite (HK) Limited [2018] HKCFI 426), (2) the English CA case Salford Estates(Salford Estates (No 2) Ltd v Altormart Ltd (No 2) [2015] Ch 589), (3) the two HK CA cases But Ka Chon (But Ka Chon v Interactive Brokers LLC [2019] HKCA 873) and Sit Kwong Lam (Sit Kwong Lam v Petrolimex Singapore

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