This article examines the tension between arbitration and insolvency in common law jurisdictions. Focusing on the divergence created by the English decision in Salford Estates and the Privy Council decision in Sian Participation Corp v Halimeda International Ltd , it critically assesses their approaches to disputes over a creditor’s standing to present a winding-up petition. Through comparative analysis, including consideration of the judgment of the courts of Singapore in AnAn Group PTE Ltd v VTB Bank , it argues that a correct understanding of the test in the Hong Kong judgment Re Southwest Pacific Bauxite (HK) Ltd , commonly known as Lasmos , provides a more principled framework, balancing party autonomy and insolvency principles.