Focus on restructuring and insolvency in Hong Kong – Law.asia

Courts in Hong Kong generally a creditor-friendly jurisdiction may wind up local companies and, if certain conditions are met, foreign companies incorporated in other jurisdictions. Hong Kong has no statutory corporate rescue regime similar to the UK administration regime and the US chapter 11 debtor-in-possession regime.

The Hong Kong provisional liquidation regime also does not provide a viable tool for debtors to restructure debts because:

1. the powers of the management are displaced by the court-appointed provisional liquidator; and
2. a provisional liquidator cannot be appointed solely to restructure a companys debts.

Schemes of arrangement rema…

Read the full article at: https://law.asia/hong-kong-restructuring-and-insolvency/