In the groundbreaking recent decision in Re Samson Paper Company Limited (in Creditors Voluntary Liquidation) [2021] HKCFI 2151 (Samson), the Hong Kong Companies Court (the Hong Kong court) has for the first time issued a letter of request to a court in mainland China under the new cross-border mutual recognition, assistance and cooperation arrangement between Hong Kong and mainland China (the Mainland) in relation to corporate insolvency and restructuring matters (the Cooperation Arrangement), which took effect on May 14, 2021. The key features of the Cooperation Arrangement and an overview of how it compares with the chapter 15 recognition procedure under the United States Bankruptcy Code can be seen here in our recent Client Alert.
…
Read the full article at: https://www.jdsupra.com/legalnews/the-first-test-case-of-the-cross-border-9346445/
