RE JIANG WENYU AND OTHERS

RE JIANG WENYU AND OTHERS

The Mainland reorganisation of HNA Group Co., Limited is a collective insolvency procedure recognisable in Hong Kong; the Company was properly the subject of proceedings in its place of incorporation; reciprocity is not required for common law recognition and assistance; accordingly the Court will recognise the...

Source-derived case information.

Citation
[2021] HKCFI 2897
Parties
Applicant Authorised Representative of the Administrator: JIANG Wenyu (蒋文玉); Applicant Authorised Representative of the Administrator: WANG Le (王乐); Applicant Authorised Representative of the Administrator: HE Luting (贺璐婷); Company Subject to Reorganisation: HNA Group Co., Limited (海航集团有限公司)
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
16 September 2021
Case Number
HCMP1220/2021
Procedural Posture
Recognition of Foreign Reorganisation (insolvency) / Originating Summons Decision at First Instance
Outcome
Originating summons granted: recognition of the Hainan reorganisation and assistance order made in favour of the Administrator and its authorised representatives
Legal Topics
Recognition of Foreign Insolvency Proceedings, Reorganisation Under PRC Enterprise Bankruptcy Law, Administrator Powers and Assistance, Reciprocity in Recognition
Source Language
en
Insolvency Law Cross Border Insolvency Civil Procedure Judicial Assistance Recognition of Foreign Insolvency Proceedings Reorganisation Under PRC Enterprise Bankruptcy Law Administrator Powers and Assistance Reciprocity in Recognition

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Parties

JIANG Wenyu (蒋文玉)

Applicant Authorised Representative of the Administrator

WANG Le (王乐)

Applicant Authorised Representative of the Administrator

HE Luting (贺璐婷)

Applicant Authorised Representative of the Administrator

HNA Group Co., Limited (海航集团有限公司)

Company Subject to Reorganisation

Procedural Posture

Recognition of Foreign Reorganisation (insolvency) / Originating Summons Decision at First Instance

Legal Issues

  1. 1 Whether the Mainland reorganisation amounts to a collective insolvency process recognisable in Hong Kong
  2. 2 Whether the proceedings were opened in the company’s place of incorporation or centre of main interests
  3. 3 Whether reciprocity is required for common law recognition and assistance

Ratio Decidendi

The Mainland reorganisation of HNA Group Co., Limited is a collective insolvency procedure recognisable in Hong Kong; the Company was properly the subject of proceedings in its place of incorporation; reciprocity is not required for common law recognition and assistance; accordingly the Court will recognise the Mainland reorganisation and grant the specified ancillary powers to the Administrator’s authorised representatives in Hong Kong.

Court Disposition

Originating summons granted: recognition of the Hainan reorganisation and assistance order made in favour of the Administrator and its authorised representatives

Orders

  • The reorganisation of HNA Group Co., Limited and the appointment of the HNA Group Liquidation Group as Administrator are recognised by this Court and JIANG Wenyu, WANG Le and HE Luting are authorised representatives for the purposes of this Order
  • The Administrator may in the Hong Kong Special Administrative Region request and receive documents and information concerning the Company and its affairs