![Headshot of Gemma Lardner](/media/22qnpuof/gemma-lardner.jpg?cc=0,0.00004062334967640613,0.001040582726326743,0&width=1440&height=960&quality=90)
Gemma Bellfield (nee Lardner)
Partner | Legal
Cayman Islands
![Headshot of Gemma Lardner](/media/22qnpuof/gemma-lardner.jpg?cc=0.14617058404558403,0,0.1878294159544159,0&width=300&height=300&quality=90)
Gemma Bellfield (nee Lardner)
Partner
Cayman Islands
Big things are happening at Ogier. Change is embedded in everything we do. It is redefining our talent, our ways of working, our platforms of delivery, our culture.
Services
We have the expertise to handle the most demanding transactions. Our commercial understanding and experience of working with leading financial institutions, professional advisers and regulatory bodies means we add real value to clients’ businesses.
Sectors
Our sector approach relies on smart collaboration between teams who have a deep understanding of related businesses and industry dynamics. The specific combination of our highly informed experts helps our clients to see around corners.
We have the expertise to handle the most demanding transactions. Our commercial understanding and experience of working with leading financial institutions, professional advisers and regulatory bodies means we add real value to clients’ businesses.
Legal
Corporate and Fiduciary
Consulting
Banking and Finance
Corporate
Dispute Resolution
Employment law
Intellectual Property
Investment Funds
Listing services
Local Legal Services
Accounting and Financial Reporting Services - Ogier Global
Cayman Islands AML/CFT training - Ogier Global
Corporate Services - Ogier Global
Regulatory and Compliance Services - Ogier Global
Sustainable Investment Consulting
Our sector approach relies on smart collaboration between teams who have a deep understanding of related businesses and industry dynamics. The specific combination of our highly informed experts helps our clients to see around corners.
Ogier provides practical advice on BVI, Cayman Islands, Guernsey, Irish, Jersey and Luxembourg law through our global network of offices across the Asian, Caribbean and European timezones. Ogier is the only firm to advise on this unique combination of laws.
Keep up to date with industry insights, analysis and reviews. Find out about the work of our expert teams and subscribe to receive our newsletters straight to your inbox.
Fresh thinking, sharper opinion.
We get straight to the point, managing complexity to get to the essentials. Our global network of offices covers every time zone.
About us
Corporate social responsibility (CSR)
Diversity, equity and inclusion
Information security
Innovation
Sustainability
No Content Set
Exception:
Website.Models.ViewModels.Components.General.Banners.BannerComponentVm
Insight
28 January 2022
Cayman Islands, Hong Kong
1 min read
在其 2022 年 1 月关于长兴国际(集团)控股有限公司的判决中,[1] 开曼群岛大法院(法院)下令立即清盘长兴国际控股有限公司。长兴国际(集团)控股有限公司是一家在香港联交所上市的开曼群岛控股公司,通过其在中国大陆和香港特别行政区的子公司经营制造和零售服装业务。 在发出即时清盘令时,法院拒绝了长兴国际在最后一刻任命重组临时清盘人及将清盘呈请延期的申请,理由是法院没有足够证据证明重组可行或符合债权人最佳利益。
呈请人最初担任长兴国际两次债券发行的配售代理,并且是部分债券的注册持有人。于2019 年和 2021 年,长兴国际拖欠了请愿人持有的债券到期的利息和本金支付。欠款并未全数偿还,2021 年 9 月,呈请人向长兴国际提出6,700万港元的法定要求偿债书。长兴国际未能依从法定要求偿债书,并于 2021 年 12 月向长兴国际提出清盘呈请,理由是其无法在到期时偿还其债务。
长兴国际没有质疑对呈请人所欠债务,而是(在清盘呈请聆讯前夕)申请委任临时清盘人并押后清盘呈请,以探讨重组其债务的可能性。该申请是基于长兴国际在资产负债表上具有偿付能力,并在中国拥有可出售以偿还其债务并使长兴国际恢复盈利的有价值的房地产资产。
呈请人反对长兴国际的申请,并以长兴国际现金流无力偿债为由寻求立即清盘令,并进一步表示:
法院一开始的原则是,如果法院信纳公司无法偿还债务,债权人有权获得清盘令,除非有特殊理由不发出清盘令。[2] 任何延期清盘申请必须有“合理依据”,无力偿债的公司有责任说服法院不发出清盘令。[3]
法院考虑了法院行使酌情权将清盘呈请延期的三大类:
就第一类案件而言,更大可能性取得延期的情况包括 (a) 当公司得到大多数债权人、拟议联合临时清盘人及/或相关上市当局(如适用)的支持延期,及 (b) 公司已采取积极的重组措施。 [6]
在本案中,长兴国际未能说服法庭,押后清盘呈请有合理依据。相反,法院得出结论认为,长兴国际的申请是在最后一刻试图避免清盘令(法院应对此保持警惕),并指出:
下令立即清盘还是押后呈请并任命重组临时清盘人的问题通常是因应案件事实而定,并且涉及法院行使广泛的酌处权。 因此,在过分强调个人决定之前应谨慎行事。 然而,长兴国际的判决建立在贯穿案件的一贯主线之上:虽然开曼法院仍然愿意支持公司真正努力进行重组,但当一家无力偿债的公司未能积极主动地采取切实步骤进行重组时,面对无可争议的债权人索赔,法院将强制执行债权人立即清盘令的权利。 我们预计,这种平衡债权人和公司利益的方法将在开曼于2022年8月31日推出新的重组制度后延续下去。
Ogier 在本案中代表胜诉的呈请人。
[1] (FSD 349 of 2021 (MRHJ), unreported, 11 January 2022).
[2] Re Lummus Agricultural Services Ltd [2001] 1 BCLC 137 and 141; Re Sun Cheong Creative Development Holdings Limited (FSD 169 of 2020 (ASCJ), unreported, 26 September 2020).
[3] Re ACL Asean Tower Holdco Limited (FSD 171 of 2018 (IKJ), unreported, 8 March 2019).
[4] See, eg, Re Sun Cheong.
[5] See, eg, Re Minrealm [2008] 2 BCLC 141 and Byblos Bank SAL v Al-Khudhairy [1987] BCLC 232.
[6] ACL Asean [29].
Gemma Bellfield (nee Lardner)
Partner | Legal
Cayman Islands
Gemma Bellfield (nee Lardner)
Partner
Cayman Islands
Contact Gemma
Back
Nour Khaleq
Senior Associate | Legal
Cayman Islands
Nour Khaleq
Senior Associate
Cayman Islands
Contact Nour
Back
Ogier is a professional services firm with the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost-effective services to all our clients. We regularly win awards for the quality of our client service, our work and our people.
This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.
Regulatory information can be found under Legal Notice
Sign up to receive updates and newsletters from us.
Sign up
No Content Set
Exception:
Website.Models.ViewModels.Blocks.SiteBlocks.CookiePolicySiteBlockVm