Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Assistance to foreign officeholders

Legal area

Court

28 Mar 2019

RE THE JOINT PROVISIONAL LIQUIDATORS OF HSIN CHONG GROUP HOLDINGS LTD (PROVISIONAL LIQUIDATORS APPOINTED) (FOR RESTRUCTURING PURPOSES ONLY)

Citation

[2019] HKCFI 805
Court

Court of First Instance
Case number

HCMP313/2019

The Court will recognise the Bermuda provisional liquidation of Hsin Chong and grant the JPLs the requested powers in Hong Kong as assistance under established Companies Court practice, including limited restructuring powers, provided this is consistent with Hong Kong law which does not permit appointments of provisional liquidators in Hong Kong solely for restructuring; accordingly the recognition and assistance order as drafted is granted.
25 Mar 2019

RE MR KAORU TAKAMATSU

Citation

[2019] HKCFI 802
Court

Court of First Instance
Case number

HCMP274/2019

The Tokyo bankruptcy is a collective insolvency proceeding opened in the company's place of incorporation; the trustee’s powers under Japanese law are analogous to those of a Hong Kong liquidator; accordingly the Hong Kong court will recognise the Japanese proceedings and grant the standard-form recognition and assistance order conferring powers to request documents, secure and take control of assets and records in Hong Kong, retain professionals, bring proceedings and apply for ancillary relief, subject to usual safeguards and proof of equivalent foreign powers where required.