An Insolvency Practitioner (‘IP’) is appointed to almost all types of insolvency proceedings in Hong Kong. There are various types of insolvency appointments including:
• supervisor or trustee of a contractual arrangement between creditors and debtors
• scheme administrator or manager of a scheme of arrangement sanctioned by the Court
• receiver and manager or Court-appointed receiver
• special manager/provisional liquidator/liquidator in a members’ voluntary liquidation (MVL), creditors’ voluntary
liquidation (CVL) or compulsory liquidation.
IPs may also be appointed as a trustee in bankruptcy. The same body of IPs deal with insolvent insurance companies.
Location