In Re Ando Credit Limited [2020] HKCFI 2775 (Re Ando), the Hong Kong Companies Court recently appointed provisional liquidators over a Hong Kong company, Ando Credit Limited, in novel circumstances with potentially significant consequences. According to the Courts written reasons dated November 11, 2020 (published in light of the unprecedented nature of the decision), the provisional liquidators were appointed at a hearing on October 23, 2020, for the express purpose of enabling them to seek recognition in Mainland China to facilitate the recovery of very substantial receivables owed to the company by Mainland China-based debtors.
Earlier this year, prior to Re Ando, the Hong Kong Companies Court recognized Mainland China-appointed ins…
Read the full article at: https://www.jdsupra.com/legalnews/recognition-of-hong-kong-insolvency-17560/
