Directors’ duties in insolvency: Hong Kong court warns of personal liability for frivolous challenges to winding-up orders
Introduction On 17 November 2025, the Hong Kong Court of Appeal delivered its reasons for judgment in Target Insurance Company Limited (in compulsory liquidation) v Nerico Brothers Limited [2025] HKCA 1024. In this ruling, the Court imposed personal costs liability on a company’s sole director for pursuing an appeal against a winding-up order that it…

