After several unsuccessful legislative endeavors in 2000-2001, 2008-2009 and 2014, the Hong Kong government plans to relaunch the much-anticipated Companies (Corporate Rescue) Bill (the “ Bill “) in 2021.

The recent Court of First Instance decision in Li Yiqing v Lamtex Holdings Limited [2021] HKCFI 622 (11 March 2021) is a landmark decision in cross-border insolvency law in Hong Kong, in which the Court held that when it is considering the recognition of foreign insolvency proceedings, regard should not simply be had to the place of incorporation of the relevant company, but that in a departure from previous practice, the location of the company’s centre of main interest (COMI) is also a factor.

简介

债务偿还安排计划是一个重组公司债务的方法，让公司与其债权人或任何类别债权人订立安排 或达成妥协。在香港，香港法例第 622 章《公司条例》第 13 部规管有关安排及妥协。法院可 下令债权人就拟议订立的安排或妥协举行会议，并可在其后认许某安排或妥协，前提是在出席 该会议且有投票的债权人中，占当中价值最少 75%的过半数债权人或类别债权人同意该安排 或妥协。

在英国，《2006 年公司法》第 26 部列出有关债务偿还安排计划的相关规定。最近在英国 Port Finance Investment Limited [2021] EWHC 378 (Ch) 一案中，英国高等法院重申有关更改针对 第三方之权利及类别组合的原则。

背景

引言

香港法院最近在Re Ando Credit Ltd [2020] HKCFI 2775一案中，首次批准一家香港公司任命临时清盘人[1]，并明确旨在允许该临时清盘人向中国内地法院寻求内地法律的承认和执行。

According to the Hong Kong SAR government’s statistics, the Hong Kong economy for 2020 contracted by 6.1% overall, which was the sharpest annual drop on record. The COVID-19 pandemic continues to hit the city’s livelihoods and economic development.

Introduction

Introduction

Can a foreign order or judgment be immediately enforced in Hong Kong? Generally, the answer is no. Depending on where the judgment comes from, either it must first pass registration under the Foreign Judgments (Reciprocal Enforcement) Ordinance, or if not caught by that ordinance, there is also a common law regime for other judgments.

The Greater Bay Area (GBA) initiative is an ambitious scheme to link the nine cities in Guangdong’s Pearl River Delta, Hong Kong and Macau into an integrated economy and world class business hub.

In this update, we highlight a selection of key Court decisions which focus on cross-border recognition and assistance, restructuring and schemes of arrangement, the winding-up of foreign companies in Hong Kong and other insolvency-related issues.