Insolvency & Restructuring
We have extensive experience in corporate
and personal insolvencies and regularly act for liquidators and trustees in
bankruptcy as well as creditors and other stakeholders.
We
advise liquidators and provisional liquidators in the performance of their
duties in both court compulsory winding-ups and voluntary liquidations. Companies and creditors
also seek our advice in insolvency or near-insolvency situations on winding-up
procedures and options for debt restructuring.
Our
work in Insolvency & Restructuring include:
- advising
creditors on their claims against a debtor company;
- petitioning
for winding up by creditors, shareholders or the company;
- applying for
receivership over the assets of companies;
- applying for
appointment of provisional liquidators;
- acting for
liquidators in investigations and actions to recover company assets, void
dispositions and misfeasance proceedings;
- advising
companies and creditors in restructuring of insolvent companies; and
- implementing
schemes of arrangement and other corporate rescue plans.
If you would like to know more about our insolvency & restructuring practice or how we can help your business, please contact us
at (852) 2810 1212 or at insolvency@onc.hk.
Please refer to our articles in ‘Knowledge’
Recommended Posts
Re Samson Paper Co Ltd: First application by Hong Kong liquidators for recognition and assistance in Mainland China
The Supreme People’s Court and the Secretary of Justice of Hong Kong signed the “Record of Meeting between the Supreme People’s Court and the Government of the Hong Kong Special Administrative Region on the Mutual Recognition of and Assistance to Bankruptcy (Insolvency) Proceedings between the Courts of the Mainland and of the Hong Kong Special Administrative Region” on 14 May 2021, which laid down a procedure for mutual recognition of insolvency processes and office holders by the Hong Kong Court and the Intermediate People’s Courts in the pilot areas, i.e. Shenzhen, Shanghai and Xiamen.
COVID-19 SPECIAL: For companies on the brink of insolvency, what directors should and should not do to avoid personal liability
While many businesses are bracing themselves for the economic slowdown, directors and members of the senior management of a company have to be mindful of their potential liability under various statutory provisions should the company go into liquidation. In general, directors and members of the senior management must bear in mind that the company has to pay its employees their wages. They could be held criminally responsible for the company’s failure of non-payment. Also, directors and members of the senior management must be careful not to fall foul of the law on fraudulent trading, unfair preference and undervalue transactions, which could result in them shouldering personal liability.
ONC Corporate Disputes and Insolvency Quarterly - December 2021 Issue
This special newsletter aims to regularly update practitioners on important and noteworthy cases in the areas of corporate disputes and insolvency in Hong Kong, the UK and other common law jurisdictions. In this issue, we have highlighted:
◾ 7 Corporate Insolvency Cases
◾ 5 Cross-border Insolvency Cases
◾ 3 Restructuring Cases
◾ 3 Corporate Disputes Cases
◾ 3 Bankruptcy Cases
