A Hong Kong court has reminded debtors of the need to present a credible and realistic restructuring proposal when facing creditors threatening winding up actions. In Re Jiayuan International Group Limited (佳源國際控股有限公司) [2023]...more
Hong Kong’s last remaining independent airline carrier, Hong Kong Airlines Limited has undergone a significant debt restructuring. In parallel proceedings (a restructuring plan in the UK and a scheme of arrangement in Hong...more
2022 has been a year which has seen significant developments in court-led corporate rescue and insolvency law reform in Hong Kong. In light of the lingering COVID19 pandemic, it was all the more important that the Hong Kong...more
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
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
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 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
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