How Many Ways – Hong Kong Court Of Appeal Gives Encouragement To Keepwell Creditors

On 10 May 2024, the Hong Kong Court of Appeal overturned the earlier first instance decision concerning the bonds of Peking University Founder Group (PUFG), finding that PUFG had breached the keepwell obligations it owed to the issuers of the bonds.

In this article, we discuss the Hong Kong Court of Appeal's decision, highlighting the implications for keepwell creditors and considerations around the enforcement of such agreements.