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    Important Changes under the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016-Part 2: Streamlining the Winding Up Process
    2016-10-27

    This is the second in a series of articles highlighting the changes to be brought in by the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 (Amendment Ordinance), which was gazetted on 3 June 2016 and will come into effect on a date to be appointed by the Secretary for Financial Services and the Treasury.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Deacons
    Authors:
    Richard Hudson
    Location:
    Hong Kong
    Firm:
    Deacons
    Case update: Cross-border insolvency, November 2016
    2016-11-28

    In The Joint Provisional Liquidators of BJB Career Education Company Limited (In Provisional Liquidation) v Xu Zhendong1, the Court of First Instance considered the Hong Kong courts' common law powers to recognise and assist foreign courts and insolvency practitioners overseeing non-Hong Kong insolvency proceedings.

    The questions considered by the court were:

    Filed under:
    Hong Kong, Company & Commercial, Insolvency & Restructuring, Litigation, HFW, Court of First Instance (Hong Kong)
    Authors:
    Peter Murphy , Andrew M Johnstone , Strachan Gray
    Location:
    Hong Kong
    Firm:
    HFW
    Winding up of Companies in Hong Kong: Key Legislative Updates Pending Implementation
    2016-12-01

    The new Companies Ordinance (Cap 622) enacted in 2012 was the first part of the effort to rewrite the statutory provisions relating to the incorporation and operation of companies. The remaining task of updating the winding up and insolvency provisions was completed in May 2016, when amendments to the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32) (CWUMPO) were passed into law. Although the implementation date of these amendments are to be announced by the government, it is time to look at the significant changes ahead.

    Filed under:
    Hong Kong, Company & Commercial, Insolvency & Restructuring, Winston & Strawn LLP
    Authors:
    Daniel Tang , Bobby Fung
    Location:
    Hong Kong
    Firm:
    Winston & Strawn LLP
    Complex logistics - the Court's power to amend a creditor's petition
    2016-12-13

    In Re Hin-Pro International Logistics Ltd the Hong Kong Court of Appeal had to consider whether it had jurisdiction to grant leave to amend a creditor's petition, and if so, whether it should do so.

    Filed under:
    Hong Kong, New Zealand, Insolvency & Restructuring, Litigation, Buddle Findlay, Liquidation, Writ
    Authors:
    Bridie McKinnon , Peter Niven , Myles O'Brien , David Perry , Kelly Paterson , Scott Abel , Susan Rowe , Scott Barker , Jan Etwell , Willie Palmer
    Location:
    Hong Kong, New Zealand
    Firm:
    Buddle Findlay
    Hong Kong Law Year in Review 2016 and Year to Come 2017
    2017-01-05

    Year in Review – Hong Kong Law in 2016

    Filed under:
    Hong Kong, Arbitration & ADR, Banking, Capital Markets, Competition & Antitrust, Derivatives, Employment & Labor, Insolvency & Restructuring, Litigation, Tax, White Collar Crime, Linklaters LLP, Disability
    Location:
    Hong Kong
    Firm:
    Linklaters LLP
    Hong Kong: Hong Kong’s amended winding-up legislation enhances protection for creditors
    2017-01-24

    The Secretary for Financial Services and the Treasury recently announced that the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance (the “Amendment Ordinance”) will come into operation on 13 February 2017. The Amendment Ordinance introduces a more efficient administration of the winding-up process and streamlines the procedures in line with international developments. The new legislation also aims to further protect creditors against asset depletion of insolvent companies.

    Our alert discusses these developments.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Baker McKenzie, Shareholder, Board of directors, Liquidation
    Location:
    Hong Kong
    Firm:
    Baker McKenzie
    Hong Kong's updated corporate Winding-Up regime: what you need to know
    2017-02-10

    The latest piece in the jigsaw of Hong Kong's corporate winding-up regime is the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 ("Amendment Ordinance"), which enters into legal effect as of today, 13 February 2017.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Bird & Bird LLP
    Location:
    Hong Kong
    Firm:
    Bird & Bird LLP
    A focus on dispute resolution in the Year of the Rooster
    2017-02-20

    What’s on the horizon? A focus on dispute resolution in the Year of the Rooster What's on the horizon? A focus on dispute resolution in the Year of the Rooster 1 What to expect in the Year of the Rooster In this bulletin we examine some of the key dispute resolution and regulatory challenges facing business managers, financial controllers, and in-house counsel in the Year of the Rooster. 1.

    Filed under:
    Hong Kong, Arbitration & ADR, Banking, Competition & Antitrust, Insolvency & Restructuring, Insurance, Intellectual Property, IT & Data Protection, Litigation, Eversheds Sutherland (International) LLP
    Location:
    Hong Kong
    Firm:
    Eversheds Sutherland (International) LLP
    Hong Kong makes changes to corporate insolvency law - this is an ad hoc briefing, and is dated February 2017
    2017-03-01

    New legislation came into force in Hong Kong in eary February which gives the court power to set aside transactions performed at an undervalue. This briefing explains the scope of this new law and the key considerations for directors when approving corporate transactions in order to avoid the risk of incurring personal liability. It is available in English and Chinese.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Freshfields Bruckhaus Deringer
    Authors:
    Georgia Dawson
    Location:
    Hong Kong
    Firm:
    Freshfields Bruckhaus Deringer
    Hong Kong Court Paves a Clear Path for the Recognition and Assistance of Foreign Liquidators
    2016-09-29

    Dispute Resolution Beijing/Hong Kong/Shanghai Client Alert Hong Kong Court Paves a Clear Path for the Recognition and Assistance of Foreign Liquidators Recent developments The recent decision of the Hong Kong court in Re Rennie Produce (Aust) Pty Ltd (In Liquidation in Australia) (HCMP 1640/2016, 26 August 2016), together with the prior decision in Re Joint Official Liquidators of Centaur Litigation SPC (In Liquidation) (HCMP 3389/2015, 3391/2015 and 3393/2015, 10 March 2016) have confirmed the court’s willingness to accede to letters of request issued by foreign courts for the recognition

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Baker McKenzie
    Location:
    Hong Kong
    Firm:
    Baker McKenzie

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