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    Hong Kong: Debtors of an insolvent company - Who should you pay?
    2025-02-25

    Section 182 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) (“CWUMPO”) renders the disposition of a company’s property after the presentation of a winding-up petition against it void, subject to any validation order granted by the court. This provision serves to preserve the company’s assets at the date of the winding-up petition for the general benefit of creditors, and to ensure that the statutory scheme of pari passu distribution can be implemented.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Bird & Bird
    Authors:
    May Leung
    Location:
    Hong Kong
    Firm:
    Bird & Bird
    Revisit the Hong Kong position: When dispute resolution clauses meet insolvency proceedings
    2025-01-06

    Introduction

    Before the landmark decision of the Hong Kong Court of Final Appeal in Guy Kwok-Hung Lam v Tor Asia Credit Master Fund LP [2023] HKCFA 9 (“ReGuy Lam”), there had been a long-standing debate over the impact, if any, of an exclusive jurisdiction clause in favour of a foreign court (“EJC”) on the presentation of bankruptcy / winding-up petitions.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Bird & Bird
    Authors:
    David Hung , May Leung
    Location:
    Hong Kong
    Firm:
    Bird & Bird
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