News & Analysis as of

Foreign Bankruptcies Hong Kong

A&O Shearman

Bankruptcy Petition vs Exclusive Jurisdiction Clause

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Who has the last word? The effect of an exclusive jurisdiction clause on insolvency proceedings - On 4 May 2023, the Court of Final Appeal (CFA) handed down its much-awaited judgment in Re Guy Kwok Hung Lam [2023] HKCFA...more

Hogan Lovells

Hong Kong court issues stunning criticism of provisional liquidators for abusing winding-up procedure

Hogan Lovells on

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

Hogan Lovells

Hong Kong court gives creditors the nod to sue despite Chapter 15 scheme recognition

Hogan Lovells on

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

Dechert LLP

Leverage may be a sufficient benefit to justify the making of a winding up order – new ruling by the Hong Kong Court of Final...

Dechert LLP on

Creditors seeking to enforce an undisputed debt against a solvent foreign non-Hong Kong company in the courts of Hong Kong will welcome the recent judgment of the Court of Final Appeal (CFA) in Shandong Chenming Paper...more

Akin Gump Strauss Hauer & Feld LLP

The Hong Kong Court Reconsiders the Primacy of the Jurisdiction of Incorporation in Cross-Border Insolvency Proceedings

In Re Lamtex Holdings Limited, the Hong Kong Companies Court recently ordered the winding-up of a Bermuda-incorporated Hong Kong-listed company. While the winding-up in Hong Kong of a foreign-incorporated company is not...more

Hogan Lovells

Call for consistency – Hong Kong Court delivers double message to insolvency practitioners

Hogan Lovells on

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

Dechert LLP

Restructuring and Insolvency Bulletin: Issue 4 - May 2018: Bad Faith and Misconduct Not a Bar to US Recognition of Hong Kong...

Dechert LLP on

Manley Toys Limited once claimed to be the seventh largest toy company in the world. Due to ongoing litigation and declining sales, it entered into a voluntary liquidation in Hong Kong. On March 22, 2016, the debtor’s...more

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