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Navigating the Arbitration-Insolvency Interplay: Hyalroute and the Cross-Border Implications for Creditors
It's a familiar dilemma: a debt remains unpaid under a contract and the creditor wishes to pursue payment of the debt.
The contract contains an arbitration agreement requiring disputes to be resolved in arbitration. The debtor disputes liability to pay the debt. The creditor is left to weigh its options - should it seek to wind up the company on the basis of the unpaid debt, or refer the dispute to arbitration?
Courts of several leading common law jurisdictions have long grappled with the inherent tension between insolvency proceedings and arbitration. In the past decade, this debate…
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