Introduction 

Section 209(1) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) empowers the Hong Kong court to make an order staying the winding-up proceedings after the winding-up order is made upon the application of, among others, a contributory. However, in the case of Safe Castle Limited v China Silver Asset Management (Hong Kong) Limited [2020] HKCFI 1028, Harris J made it clear that the court will be reluctant to exercise its discretion to stay a winding-up order pending appeal.

Introduction

Introduction

Introduction

Background

The summer months are upon us, and developments in insolvency law and practice continue apace. Since our Spring issue the courts have pronounced in a number of interesting cases. At the time of writing, the World Cup is underway – it would perhaps be remiss not to have some football flavour in this article, and so some observations on the plight of Portsmouth FC are appropriate (though saved till the end).

Successive notices of intention to appoint administrators: more than one moratorium?