The Hong Kong Court of Appeal has dismissed a challenge to a first instance decision which recognized the Beijing administrators of the commercial arm of the Peking University group but granted only a limited stay of...more
Directors who oppose company windings up with little more than a hope that a restructuring proposal may bear fruit may have to weigh their actions carefully going forward, following a recent decision by the Hong Kong...more
A Hong Kong court has severely criticised the provisional liquidators (PLs) appointed by the court in the company’s place of incorporation in the Cayman Islands, for trying to interfere with the rights of creditors in Hong...more
The Hong Kong court has sanctioned a scheme of arrangement for a Hong Kong-listed, Bermuda-incorporated fertilizer manufacturer based in the mainland. In doing so, the Honorable Mr Justice Harris also warned holders of U.S....more
The Hong Kong court has confirmed that – going forward – the court is ready to recognize and assist a foreign insolvency process conducted in the company’s center of main interests (COMI) and that it will no longer be...more
The Court of First Instance held in Re Up Energy Development Group Limited [2022] HKCFI 1329 that where the three core requirements for winding-up a foreign company under section 327(1) of the Companies (Winding up and...more
In Shandong Chenming Paper Holdings Limited v Arjowiggins HKK2 Limited [2022] HKCFA 11, the Court of Final Appeal has confirmed that the "leverage" created by the prospect of a winding-up – as opposed to the making of a...more
Singapore is getting serious about becoming the region’s international insolvency hub. In this inaugural podcast from the International Insolvency Institute, Hon. Kevin Carey (Ret.) of Hogan Lovells discusses Hon....more
In a significant decision, the Shenzhen Intermediate People's Court (Shenzhen court) has ordered formal recognition in the mainland for Hong Kong appointed liquidators. This is the first occasion on which a mainland court has...more
Hong Kong and the Mainland have agreed a new co-operation mechanism for cross-border insolvency. Under the agreement, liquidators from Hong Kong may apply to Mainland courts for recognition of insolvency proceedings in Hong...more
5/14/2021
/ China ,
Commercial Bankruptcy ,
Cooperation Agreement ,
Creditors ,
Cross-Border ,
Debtors ,
Foreign Corporations ,
Foreign Jurisdictions ,
Hong Kong ,
Insolvency ,
Supreme Peoples Court
In another groundbreaking decision, the Hong Kong court in Re Ando Credit Ltd [2020] HKCFI 2775, has appointed provisional liquidators over a Hong Kong-incorporated investment manager for the express purpose of allowing the...more
The Hong Kong Court of Appeal has allowed the proposed privatization of a Hong Kong listed company through a scheme of arrangement, overturning the decision of the Court of First Instance (CFI).
...more
In a significant development, the Shanghai Financial Court has announced its ruling in the first case in China involving an application for recognition and enforcement of a Hong Kong court judgment relating to the...more
The Hong Kong government is proposing much-anticipated legislation for the introduction of a corporate rescue procedure and insolvent trading regime. Hong Kong has, for years, struggled to introduce a statutory corporate...more
In a pair of recent contrasting judgments, Re Agritrade Resources Ltd [2020] HKCFI 1967 and Re Rare Earth Magnesium Technology Group Holdings Ltd [2020] HKCFI 2260, the Hong Kong Court has once again confirmed its pragmatic...more
Through the unveiling of the Limited Partnership Fund (LPF) regime, Hong Kong makes clear its intention to join the Cayman Islands and Luxembourg as a viable alternative for Asia-focused asset managers seeking fund domicile....more
In a recent judgment, the Hong Kong Court reiterated the principles outlined in Kam Leung Sui Kwan v. Kam Kwan Lai [2015] 18 HKCFAR 501 (Yung Kee), the case concerning the famous roast goose restaurant in the heart of Hong...more
The Singapore High Court has recently granted recognition to Hong Kong liquidation proceedings and liquidators for the first time under Singapore's enactment of the United Nations Commission on International Trade Law Model...more
In several Commonwealth jurisdictions, the corporate legislation allows creditors to petition a court to order the winding up of a debtor in circumstances where that debtor is unable to pay its debts as they fall due. Such...more
China has placed stringent travel and quarantine restrictions on people entering the country and moving from one part of the country to another as part of the effort to contain the COVID-19 outbreak. Corporations with...more
The Australian Government has introduced new laws which are intended to avoid unnecessary corporate insolvencies in light of the challenges presented by the unfolding COVID-19 global pandemic....more
Just in time for Chinese New Year, a Hong Kong court has taken a major step forward in the developing law on cross-border insolvency by recognising a mainland Chinese liquidation for the first time. ...more
1/17/2020
/ China ,
Commercial Bankruptcy ,
Creditors ,
Cross-Border ,
Debtors ,
Foreign Corporations ,
Foreign Jurisdictions ,
Hong Kong ,
Insolvency ,
Liquidation ,
Supreme Peoples Court