The question of whether or not a trustee in bankruptcy can sell a family home to help recover the debts of an individual varies on a case-by-case basis. The law in Scotland provides protection to a debtor's immediate family, but permission can still be granted to sell the property – if five factors are considered first.

一直以來，香港的公司清盤制度均欠缺法定企業拯救程序，因此，陷入財政困難的公司只能透 過以下途徑拯救其業務：(i) 與主要債權人透過非法定途徑就重組債務達成共識，或 (ii) 根據香 港法例第 622 章《公司條例》進行債務償還安排計劃。然而，上述兩個途徑均有很多問題，例 如費用高昂、不切實際、欠缺彈性和繁瑣費時。

今年較早時候，香港政府宣布重啟企業拯救條例草案，在香港推行（其中包括）法定的企業拯 救程序。《公司（企業拯救）條例草案》（「條例草案」）旨在與國際慣例及標準接軌。下文 將概述最新的立法建議。

發起臨時監管

根據條例草案，已經或很大機會變為無力償債的公司，可以發起企業拯救程序，委任一名獨立 的第三方專業人士（必須為註冊會計師或律師）為臨時監管人。臨時監管人會在暫止期（亦稱 為臨時監管期，建議為期 45 個辦公日）內擔任公司的代理人。在暫止期內，公司將以持續經 營形式繼續經營下去，而臨時監管人會訂定拯救方案（稱為「自願償債安排」），在臨時監管 期結束後的債權人會議上審議。債權人將藉由決議案決定是否批准自願償債安排建議；如獲批 准，自願償債安排將由臨時監管人監管實施。

法定暫止期

簡介

2020 年 11 月 12 日，破產管理署發出 2020 年第 2 號通告，當中載列關於臨時清盤人或清盤 人向破產管理署署長提交表格 D1 及 D2 的經修訂安排（「通告」）。臨時清盤人／清盤人 （統稱「清盤人」）如知悉董事有任何不當行為操守，須向破產管理署署長提交法定表格 D1。通告將於 2020 年 12 月 1 日生效。

現有安排

如無力償債公司的清盤人認為現任或前任董事的行為操守（不論單獨觀之或連同其作為任何其 他公司的董事的行為操守觀之）使該人不適宜關涉公司的管理，則須填妥香港法例第 32J 章 《公司（董事行為操守報告）規例》附表內的表格 D1，向破產管理署署長報告有關事宜。

破產管理署署長在收到上述報告後，如信納符合公眾利益，可根據香港法例第 32 章《公司 （清盤及雜項條文）條例》第 168I 條向法院申請針對任何現時或曾經出任無力償債公司董事 的人士發出取消資格令。

清盤人如認為前任或現任董事的行為操守不適宜公司的管理，即可援引報告規定。該規定同樣 適用於公司成員自動清盤的情況。

新安排

Introduction 

On 12 November 2020, the Official Receiver's Office ("ORO") issued Circular No. 2 / 2020 setting out the revised arrangement on submission of Form D1 and Form D2 by provisional liquidators or liquidators to the Official Receiver ("Circular"). Provisional liquidators / liquidators ("Liquidators") are required to submit a statutory Form D1 to the ORO when they become aware of any unfit conduct of a director. The Circular takes effect from 1 December 2020.

Hong Kong's insolvency system is famous for its lack of statutory corporate rescue procedure ("CRP"). Owing to the lack of CRP, financially distressed companies may only recourse to rescue their business with (i) a non-statutory consensual agreement with major creditors to restructure debts, or (ii) a scheme of arrangement under the Companies Ordinance (Cap. 622). These options, however, have many problems such as being expensive, impracticable, inflexible and tedious.

1 November 2020 ONC Corporate Disputes and Insolvency Quarterly Dear Clients and Friends, This special newsletter aims to regularly update practitioners on important and noteworthy cases in the areas of corporate disputes and insolvency in Hong Kong, the UK and other common law jurisdictions. We would also seek to give alert on important legislative and regulatory initiatives from Hong Kong.

The Corporate Insolvency and Governance Act 2020 ("CIGA") came into force on 26 June 2020 with the main objective of giving businesses "breathing space" in order to continue trading in light of the COVID-19 pandemic. It was progressed quickly through parliament and includes a number of temporary measures aimed at immediately reducing the number of companies entering insolvency procedures.

On 8 October, the Government announced that it will bring forward new regulations requiring mandatory independent scrutiny of pre-pack administration sales where connected parties, including the former company’s existing directors or shareholders, are involved in the purchase.

Challenging a Tenant CVA

Company Voluntary Agreements ("CVAs") have been the go-to option for struggling retail businesses over the pandemic period. While all creditors are generally treated equally under a CVA, landlords are increasingly finding themselves at the short end where they are the only, or one of, a very small pool of, creditors taking a hit. It is now more important than ever that a landlord knows the circumstances by which they can challenge a tenant's CVA.

The re-introduction of Crown preference and the resulting change in the order of priority of creditors on insolvency was announced as part of the Autumn budget in 2018, way before anyone had heard of coronavirus or COVID-19, and was originally due to come into force on 6 April 2020. It was delayed until 1 December 2020 in terms of the 2020 budget which was presented to Parliament on 11 March 2020, the same day as the World Health Organization declared the outbreak of COVID-19 a pandemic.