COMI as first port of call? Harris J lays out a modified common law framework for recognising foreign insolvency proceedings in Hong Kong

Historically, the Hong Kong courts have generally recognised foreign insolvency proceedings commenced in the jurisdiction in which the company is incorporated. This may no longer be the case in Hong Kong following the recent decision of Provisional Liquidator of Global Brands Group Holding Ltd v Computershare Hong Kong Trustees Ltd [2022] HKCFI 1789 (Global Brands).

Filed under:
Hong Kong, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Coronavirus, UNCITRAL, Hong Kong Stock Exchange
Authors:
Paul Apáthy , Gareth Thomas , Alexander Aitken , Peter Ng , Tim Chu
Location:
Hong Kong
Firm:
Herbert Smith Freehills LLP
Will you stay no longer? Hong Kong Companies Court considers general stay provisions in recognition orders

When the Hong Kong Court recognises offshore soft-touch provisional liquidation, will there be an automatic stay of proceedings in Hong Kong?

Recently, in Re FDG Electric Vehicles Limited [2020] HKCFI 2931, the Companies Court answered “no”. In doing so, the Court revisited the wording of the standard-form recognition order.

Soft-touch provisional liquidations

Filed under:
Hong Kong, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Hong Kong Stock Exchange
Authors:
Gareth Thomas , Alexander Aitken , Peter Ng
Location:
Hong Kong
Firm:
Herbert Smith Freehills LLP