Robin Antony Darton

The Court of Appeal of England and Wales ("EWCA") recently handed down its decision in Servis-Terminal LLC v Valeriy Ernestovich Drelle [2025] EWCA Civ 62 clarifying that, as a matter of English law, an "unrecognised" foreign judgment cannot be relied upon as a basis to commence insolvency proceedings. By "unrecognised" in this context we mean a foreign judgment that has not been registered/recognised pursuant to a statutory procedure nor sued upon for enforcement at common law.

Following on from our article last year summarising the key Restructuring and Insolvency cases of 2023, 2024 was another busy year for developments in the industry in Hong Kong. The Court of Final Appeal ("CFA") handed down a landmark decision in China Life Trustees v China Energy Reserve clarifying the test to establish a Quistclose trust in the context of monies paid for restructuring purposes.

On behalf of China City Construction (International) Co., Limited (In Creditors' Voluntary Liquidation) ("CCCI") and Dingway Investment Limited (In Compulsory Liquidation) ("Dingway"), both acting through their liquidators, Tanner De Witt successfully obtained an Anti-Suit Injunction ("ASI") against China City Construction & Development Co., (HK) Limited ("CCCDHK"), restraining CCCDHK from continuing with proceedings it had commenced in the People's Court in Beijing.