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Client Alert April 25, 2024

New Rights for Private Equity Investors and Private Credit Lenders Enhance Speed of Takeover of PRC Project Companies

  • Recent challenging economic conditions in China are putting many PRC companies in distress.
  • This puts offshore joint venture partners and private credit lenders at risk, potentially having to attempt a difficult recovery by taking over PRC projects, companies or assets.
  • A new Chinese company law may give investors an upper hand by strengthening their information rights, which when combined with a multijurisdictional strategy allow a more effective takeover.

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Client Alert February 8, 2024

Creative Approaches for Investors and Joint Venture Partners to Leverage New PRC Company Law to Take Control of Onshore Chinese Companies

  • Unfavorable economic conditions in China are putting many offshore companies in distress.
  • In a worst-case scenario, joint venture partners and private credit lenders may have to attempt to take over onshore projects, companies and assets.
  • A new Chinese company law coming into effect on July 2024 could smoot this path to recover – including by making it easier to replace legal representatives.

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Client Alert May 25, 2023

Asia-Based Investors in U.S. Commercial Real Estate Can Mitigate Losses by Defending their Legal Rights

  • Chinese and other Asia-based investors have targeted the U.S. commercial real estate market recently, whether by direct investment or through CMBS or REITs.
  • However, the pandemic, credit tightening and regional bank failures have accelerated a market downturn, and many investors are vulnerable to losses.
  • Investors should consider proactive or counteroffensive strategies to enforce their legal rights, even against big industry players, to mitigate their losses and protect their bottom lines.

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Client Alert December 7, 2022

Enforcing Minority Shareholder Rights in Asia: A Comparative Guide to Just and Equitable Winding Up

  • Minority shareholders have options to stand up to majority shareholders and directors, such as unfair prejudice claims or derivative actions.
  • However, if these do not achieve the desired result, one more tool is available to exert pressure: a just and equitable winding up.
  • We lay out how this tool can be applied in five key jurisdictions for corporate structures in Asia.

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Client Alert August 31, 2022

Enforcing Minority Shareholder Rights in Asia: A Comparative Guide to Derivative Actions

  • Minority shareholders may be surprised to learn that they have effective options when a director or other fiduciary has harmed the company.
  • However, the situation may be complicated when structures cross borders, as many corporate structures in Asia do, including spreading offshore.
  • Our Claim Monetization team explores how shareholders can deploy derivative actions in five key jurisdictions across Asia Pacific, the UK and the Caribbean as part of an effective cross-border strategy.

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Client Alert July 26, 2022

Enforcing Minority Shareholder Rights in Asia: A Comparative Guide to Unfair Prejudice

  • Minority shareholders may have certain remedies available when they feel their rights have been unfairly prejudiced by the majority.
  • However, the situation may be complicated when structures cross borders – typical corporate structures in Asia may spread across offshore and other key regions.
  • Our Claim Monetization team lays out the basic parameters of the tools open to minority shareholders across five key jurisdictions.

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Client Alert May 26, 2021

Dissolving a Delaware-Registered Joint Venture: A Key Pressure Tactic in Joint Venture Disputes

  • For parties embroiled in contentious joint-venture disputes, it is advantageous but challenging to find new ways to exert pressure on a counterparty.
  • If the counterparty is registered in Delaware, however, a pursuing a dissolution proceeding there can prove to be a decisive way to gain leverage.
  • As our Claim Monetization & Dilution team explains, this tactic saved a client in a recent case valuable time and money in reaching a favorable settlement.

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Client Alert June 5, 2019

To Catch a Debtor: Seizing the Money

  • Chinese businesses tend to favor offshore jurisdictions for setting up joint venture (JV) structures, but deadlock can ensue if partners differ into a dispute.
  • A litany of offshore legal tools exists, from provisions in the JV's constitutional documents to the appoint of a receiver to restore control to the wronged party.
  • However, the process for deploying these options differ based on each jurisdiction, and it is advisable to seek counsel before acting on any strategy.

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Client Alert November 19, 2018

A New Door to Obtaining Business Intelligence in Offshore Cases

  • A recent decision involving document disclosure in offshore courts presents an opportunity for PRC-based companies to obtain business intelligence.
  • This decision — which was made in the English Court of Appeal and will likely influence offshore jurisdictions and Hong Kong — has shed light on how nonparties can get copies of court documents, evidence, written arguments and judgments.
  • To leverage the opportunity effectively, local expertise of offshore court processes and this new decision, in addition to on-the-ground support in PRC, will be needed.

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