Great leap forward: Hong Kong Court issues first letter of request under Mainland-Hong Kong arrangement for mutual recognition of insolvency

In another leap forward for cross-border insolvency cooperation between Hong Kong and Mainland China, the Hong Kong Court has issued its very first letter of request to a Mainland Court requesting recognition and assistance of Hong Kong liquidators under the new arrangement for mutual recognition of and assistance to insolvency proceedings introduced on 14 May 2021 (New Arrangement, which we wrote about

Filed under:
Hong Kong, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
Authors:
Gareth Thomas , Alexander Aitken , Jojo Fan , Peter Ng
Location:
Hong Kong
Firm:
Herbert Smith Freehills LLP
Hong Kong Court recognises Mainland reorganisation for the first time

The Hong Kong Court has broken yet more new ground by recognising Mainland reorganisation proceedings for the first time in Re HNA Group Co Limited [2021] HKCFI 2897.

Filed under:
Hong Kong, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Supply chain, Coronavirus
Authors:
Gareth Thomas , Jojo Fan , Alexander Aitken , Peter Ng
Location:
Hong Kong
Firm:
Herbert Smith Freehills LLP
To ask or not to ask? That is the question (2)

As discussed in our previous blog post, the decision for provisional liquidators to apply for directions on the distribution of funds can be a difficult one to make.

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