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15 Jun 2020

Recent PRC court case puts the use of keepwell deed under scrutiny

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Use of Keepwell deeds put under the microscope

The ongoing restructuring of the Peking University Founder Group ("PKU Group") has, for the first time in recent memory, put the use of keepwell deeds under judicial scrutiny before the PRC courts. Regardless of the eventual outcome of these developments, market participants should take these events as an opportunity to re-evaluate whether it is still appropriate or feasible to use keepwell deeds in future transactions.

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