Restrictions on the issuing of statutory demands and winding-up petitions are due to come to an end at the end of the month having first been implemented by the Corporate Insolvency and Governance Act 2020 (“CIGA”) in March 2020.

As of 1 April 2022, the restrictions will cease to apply and creditors will be free once again to issue winding-up petitions against debtors who are unable to pay sums owed.

Nuoxi Capital Ltd (In Liquidation in the British Virgin Islands) v Peking UniversityFounder Group Co Ltd[2021] HKCFI 3817

Re Wang Huimin[2021] HKCFI 3472

The Bankrupt, Madam Wang, is a Chinese citizen and holds a PRC resident identity card. She has been residing in Shanghai since she was born. The Petitioner is Madam Wang’s younger brother.

Re Hsin Chong Construction Co Ltd (No 4)[2021] 5 HKLRD 489, [2021] HKCFI 3451

Re Ho Suet Hung[2021] HKCFI 3836

A bankruptcy order was made against the Bankrupt on 16 October 2018. Upon the consent of the Official Receiver, being the provisional trustee, the Bankrupt opened a bank account at Standard Chartered Bank (“SCB Account”) to receive her monthly salary. The Trustees were subsequently appointed whereupon the OR ceased to be provisional trustee.

Re Samson Paper Holdings Ltd[2021] 5 HKLRD 286

The Company convened a meeting of unsecured creditors for considering and approving a proposed scheme (“Scheme”) of arrangement restructuring the Company’s unsecured debt. The statutory majority required by section 674 of the CO was obtained and the Company issued a petition seeking the court’s sanction of the Scheme.

Excellent Asia (BVI) Ltd v Mas Media Group Ltd[2021] HKCFI 3605

In March 2020, the Petitioner presented a petition to wind up the Respondent company, which is incorporated in the Cayman Islands, on the ground of insolvency.

Failing to state in the Petition how the three core requirements are satisfied, the Petitioner subsequently took out a summons seeking to introduce a re-amendment to assert matters that are capable of satisfying the three core requirements.

Superpark Oy v Superpark Asia Group Pte Ltd and others[2021] SGCA 8

The Financial Conduct Authority v Carillion Plc[2021] EWHC 2871 (Ch)

The Respondent company was put into compulsory liquidation on 15 January 2018 and the Official Receiver was appointed as the liquidator.

Section 130(2) of the UK Insolvency Act (which is in the same wordings as section 186 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32)) provides that:

Silver Starlight Limited v China CITIC Bank Corporation Limited, Tianjin Branch &Others[2021] HKCA 1248