In his article “Lasmos and Beyond: Have the Cake and Eat it Too?”, our Litigation Partner Dantes Leung sets out to answer one intriguing and controversial legal question which is yet to be definitively ruled on by the Hong Kong Court: how should the court deal with an insolvency petition founded solely on an alleged debt that is the subject of an arbitration clause? Dantes’ article navigates through the body of insolvency cases and probes and penetrates the different approaches taken by the common law courts. It illuminates the issues presented by these approaches and how they may be reconciled, culminating in its central argument – also the inescapable conclusion – there is but one logical approach without having and eating the cake too: regardless of any steps taken under the arbitration clause, such a winding-up petition should be stayed or dismissed in the absence of an arbitral award.
Thorough and convincing, Dantes’ article provides unparalleled insights into the subject question and offering fresh perspectives on the plausibility and logicality (or the lack thereof) of the reasoning of the court approaches. For the interested readers, Dantes’ article can be found in the link http://www.hk-lawyer.org/content/lasmos-and-beyond-have-cake-and-eat-it-too.