RE 銀河天成集團有限管理人

RE 銀河天成集團有限管理人

The court recognised the Guangxi‑supervised insolvent liquidation and the Administrator because the insolvency proceedings are collective and located in the Mainland (the Company’s COMI), the assistance sought (document production, asset preservation, litigation and ancillary relief) is necessary for the Administrator to perform statutory duties, and the exercise of the common law power to recognise and assist foreign office‑holders is appropriate and consistent with Hong Kong law and public policy even though the requesting court is not in an SPC designated Pilot Area; accordingly the specific powers sought were granted.

Citation
[2024] HKCFI 2016
Parties
Applicant/administrator: 北京中銀(南寧)律師事務所; Debtor/company: 銀河天成集團有限公司 (in liquidation); Requesting Court: 廣西壯族自治區南寧市中級人民法院
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
1 August 2024
Case Number
HCMP658/2024
Procedural Posture
Recognition and Assistance to Foreign Insolvency Proceedings / Judgment (recognition Granted)
Outcome
Order granted: recognition of Mainland insolvent liquidation and recognition of appointment of the Administrator; assistance granted
Legal Topics
Recognition and Assistance, Foreign Administrator Recognition, Asset Investigation and Recovery, Disclosure Orders, Freezing and Ancillary Relief, Mutual Recognition Mechanisms
Source Language
EN
Insolvency Cross Border Insolvency Private International Law Company Law Civil Procedure Recognition and Assistance Foreign Administrator Recognition Asset Investigation and Recovery +3 more

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Parties

北京中銀(南寧)律師事務所

Applicant/administrator

銀河天成集團有限公司 (in liquidation)

Debtor/company

廣西壯族自治區南寧市中級人民法院

Requesting Court

Procedural Posture

Recognition and Assistance to Foreign Insolvency Proceedings / Judgment (recognition Granted)

Legal Issues

  1. 1 Whether the Hong Kong court has common law jurisdiction to recognize and assist a mainland administrator appointed by a non‑Pilot Area court
  2. 2 Whether the Guangxi Court’s insolvency proceedings are collective proceedings and whether the Company’s centre of main interest (COMI) is in the Mainland
  3. 3 Whether the assistance sought (document disclosure, possession/control of assets, setting aside charging order, investigation of undervalue transfer and unpaid dividends) is necessary for the administrator to perform duties

Ratio Decidendi

The court recognised the Guangxi‑supervised insolvent liquidation and the Administrator because the insolvency proceedings are collective and located in the Mainland (the Company’s COMI), the assistance sought (document production, asset preservation, litigation and ancillary relief) is necessary for the Administrator to perform statutory duties, and the exercise of the common law power to recognise and assist foreign office‑holders is appropriate and consistent with Hong Kong law and public policy even though the requesting court is not in an SPC designated Pilot Area; accordingly the specific powers sought were granted.

Court Disposition

Order granted: recognition of Mainland insolvent liquidation and recognition of appointment of the Administrator; assistance granted

Orders

  • The insolvent liquidation of 銀河天成集團有限公司 and the appointment of 北京中銀(南寧)律師事務所 as Administrator by the Nanning Municipal Intermediate People’s Court are recognised by this Court
  • The Administrator is authorised in Hong Kong to request and receive documents and information concerning the Company, including audit and communications records