The principles guiding the court’s discretion in constituting a COI are well established, and the main goal is to ensure that the composition of the COI is fair, balanced, and conducive to the efficient supervision of the liquidation.
The Hong Kong Court recently handed down a decision (Re China Evergrande Group (in liquidation) [2025] HKCFI 1638) concerning the formation of a COI in the liquidation of China Evergrande Group (CEG). As at its liquidation, CEG was one of the world’s most indebted property developers—its main offshore liabilities included over USD14 billion outstanding principal under notes issued by CEG (CEG Notes) and private debts of over USD4bn.1
The decision not only puts under the spotlight the issue of…