Company Law in Hong Kong: Insolvency, 2023


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Company Law in Hong Kong: Insolvency, 2023
Aug 2023

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Company Law in Hong Kong: Insolvency 2023 covers major aspects of corporate insolvency law in Hong Kong. This edition contains detailed coverage of the latest legal developments, including BTI 2014 LLC v Sequana SA [2022] UKSC 25, [2022] 3 WLR 709, in which the UK Supreme Court affirmed the existence of the common law duty of directors to take into account creditors’ interests when a company is insolvent.

There have also been important new decisions in Hong Kong dealing with cross-border insolvency, in particular Shandong Chenming Paper Holdings Ltd v Arjowiggins HKK 2 Ltd [2022] 25 HKCFAR 98, where the court discussed the nature of the three “core” requirements for exercise of the Hong Kong court’s discretion to wind up a foreign company. Re Global Brands Group Holding Ltd (In Liq) [2022] 3 HKLRD 316 discusses the court’s common law power to grant recognition and assistance to foreign insolvency office-holders.

On the legislative front, technical amendments relating to implementation of an “Electronic Submission System” for submission of documents, as well as streamlining of advertising and publishing requirements for insolvency notices are discussed.



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