A 2020 decision of Mr Justice Harris concerned FDG Electric Vehicles Limited (the Company), a company which has been put into provisional liquidation in Bermuda, where it was incorporated. The Joint and Several Provisional Liquidators (the Provisional Liquidators) applied to the Hong Kong court for an order of recognition and assistance (the Application).
In considering the Application, the court identified two issues which required further consideration:
- Should the order contain a paragraph, which on its face gives the Provisional Liquidators the power to take control of all directly and indirectly owned subsidiaries of the Company?
- What, if any, stay should be ordered in respect of existing or prospective proceedings against the Com…
Read the full article at: https://www.jdsupra.com/legalnews/further-clarification-on-the-impact-of-2389342/
