17 May 2023
RE GUANGDONG OVERSEAS CONSTRUCTION CORPORATION
- Citation
- [2023] HKCFI 1340
- Court
- Court of First Instance
- Case number
- HCMP453/2023
The court held that the Guangzhou Court’s bankruptcy liquidation and the appointment of the Administrator satisfy the common law criteria for recognition and assistance (collective insolvency, COMI in Mainland) and that the assistance sought is necessary and consistent with Hong Kong law and public policy; accordingly the court recognized the foreign insolvency and granted the Administrator specified powers including control of the identified Hong Kong asset (1,199,997 shares in GOCD), authority to obtain documents, operate bank accounts, commence proceedings and secure assets, with costs to…