 was recently invited to Roubrick’s breakfast roundtable discussion on the interplay between insolvency and arbitration.

Over coffee and pastries, participants engaged in an energetic discussion over the apparently divergent approaches in the UK and Hong Kong to insolvency petitions presented on the basis of debts that are subject to arbitration clauses (including as to different burdens and standards of proof). Lively debate ensued as to the extent to which the 

approach would strengthen Hong Kong’s position as an arbitration-friendly jurisdiction and, conversely, affect Hong Kong’s appeal as a forum for resolution of cross-border insolvency disputes.

The overwhelming conclusion reached by participants: Hong Kong remains an arbitration-friendly jurisdiction; and despite the apparently different legal tests employed by the UK and Hong Kong, the Hong Kong courts are well-placed to ensure that unmeritorious defences bordering on the frivolous or amounting to an abuse of process are readily rejected and that companies are wound-up accordingly. In this way, the insolvency and arbitration regimes in Hong Kong can operate synergistically.

The roundtable discussion was joined by other leading industry professionals Eloise Matsui, Truman Mak, Alexander Tang, Byron Phillips, Andrew Rigden Green, Wilfred Ho and John Crook.

We are grateful to Roubrick for putting together such a well-organised event and look forward to sharing our members’ insights on other occasions.

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