The case of Lau Siu Hung and Another v Krzysztof Marszalek and Another [2013] HKEC 936 appears to be the first authority in Hong Kong on the effect an annulment of a bankruptcy order has on debts which remain unproven when an annulment order is made.  On 17 June 2013, the Court of First Instance held that an annulment of bankruptcy cannot prohibit a creditor, who has not proved his debts before, to obtain relief from the court after the annu

A new electronic database of bankruptcy and liquidation petitions, open to any company, is being set up by the National Judicial Office.

This will enable any company to obtain a certificate showing whether it has had a bankruptcy or liquidation petition filed or liquidation proceedings initiated against it (but in each case not yet finally decided).

The introduction of the database and certificate system into the Bankruptcy Code is the result of concerted lobbying by the American Chamber of Commerce in Hungary and CMS Budapest Office.

In a judgment handed down on 6 March 2013, the Hong Kong High Court elaborated on the guiding principles the court will follow when determining whether or not it should exercise its 'exorbitant' jurisdiction to wind up an unregistered overseas company 'which prima facie is beyond the limits of territoriality'.

In Rubin v Eurofinance SA and New Cap Reinsurance Corporation (in liquidation) and another v AE Grant and others [2012] UKSC 46, the UK Supreme Court held that: