Arbitration analysis: In this case, a company successfully resisted a winding-up petition by arguing that the debt had been waived under a deed containing an arbitration clause. The company maintained that any bona fide dispute regarding the debt must be resolved through arbitration, per Re Guy Lam. The petitioner disputed the arbitration clause. The judge dismissed the petition, confirming the existence of a bona fide dispute. In obiter, the judge highlighted the need to balance the public policy of upholding agreed alternative dispute resolution (ADR) against risks like third-party insolvency or frivolous defences. Notably, the judge followed Re Guy Lam over Sian Participation, holding its binding nature on Hong Kong proceedings even though the waiver deed was under Cayman Islands law. The judge also held, where the validity of the arbitration clause is challenged, a prima facie case of a binding arbitration clause needed to be shown and the strength of the argument may be taken into account in the exercise of the multi-factorial discretion. Written by Adrian Lai JP, barrister at Des Voeux Chambers; Zhang Ting of Beijing DOCVIT Law Firm.