Key takeaway
Cross-border recognition and assistance is now available in Hong Kong for foreign liquidators in solvent as well as insolvent compulsory liquidations. However, recognition and assistance is unlikely to be provided in the context of a creditors’ voluntary liquidation.
The case
In Re Forever Winner International Limited (in liquidation) [2026] HKCFI 5108, Forever Winner International (BVI) (Company) held a 49 percent stake in a HKEX-listed Cayman company, SPHL, as well as a HK $83.3 million unpaid dividend and UBS bank accounts in Hong Kong.
After a deadlock between the shareholders and directors, the BVI Court wound the Company up on just and equitable grounds (while the Company remained solvent) and appointed…