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  1. Insolvency law back on the agenda after financial crisis

    Posted Apr 21st 2010, 12:00am by Kate Watson

    ... Kate Watson Hong Kong is taking a second look at the Companies Ordinance proposals as the economy is limping back to normal. The enacting of an insolvency law is a well-visited proposition ... at PricewaterhouseCoopers Hong Kong. The mainland's enterprise bankruptcy law was introduced in June 2007. It has three major provisions: first, you can close down a company because it is insolvent; the second ...

  2. Liquidator of yoga firm accused of conflict of interest

    Posted Jun 19th 2010, 12:00am by Elaine Yau

    ... intervene in the liquidation proceedings to help the chain's members recover their losses. Under the law, a notice must be issued to the creditors within 28 days after a company applies ... not be impartial because of their links to the company. 'Law enforcers are not required by the law to get involved in cases involving voluntary liquidation in the initial stage. But if meetings ...

  3. In Brief

    Posted May 21st 2010, 12:00am by Staff Reporter

    ... Probe into Lehman Brothers complaint cases nearly complete Investigations on more than 99 per cent of a total of 21,613 Lehman-Brothers-related complaint cases had been completed, the Monetary Authority said. Of those cases, it said 13,077 had been resolv ...

  4. Bankruptcy filings drop to five-year low

    Posted Mar 20th 2010, 12:00am by Paggie Leung

    ... Paggie Leung The number of people filing for bankruptcy fell to a five-year low last month, which an academic described as a sign that the economy was recovering. Figures released by the Official Receiver's Office yesterday showed that there were 677 ...

  5. Wheels of reform have habit of getting stuck

    Posted Feb 02nd 2010, 12:00am by Enoch Yiu

    ... can go into liquidation if just one creditor applies for it to be wound up. It was 14 years ago that a law reform committee stressed the need for bankruptcy protection and there have been two ... reform the government has been struggling with is the plan to turn some of the listing rules into law so that giving misleading information to the market could lead to criminal prosecution. ...

  6. More bureaucrats going bankrupt

    Posted Feb 13th 2010, 12:00am by Staff Reporter

    ... Phyllis Tsang The number of insolvency or bankruptcy cases involving civil servants rose 37 per cent to 130 last year, according to a Civil Service Bureau paper submitted to the Legislative Council. The Independent Commission Against Corruption received 1,062 reports of alleged corruption by civil servants, an 11 per cent increase over 2008. ...

  7. Concessions eyed for Chapter 11 bill

    Posted Feb 01st 2010, 12:00am by Enoch Yiu

    ... the Australian law used in the current proposal. Britain adopted a 'wrongful trading' concept two decades ago, whereby it is not unlawful for a firm to trade while insolvent as long ... for insolvent trading and more protection for workers. It is the third attempt in a decade to push through the corporate rescue bill that aims to give troubled companies six months' breathing space ...

  8. Bankruptcies fall to near 10-year low

    Posted Nov 20th 2010, 12:00am by Staff Reporter

    ... Staff Reporter Personal bankruptcies fell to an almost 10-year low last month, according to the latest figures from the Official Receiver's Office. Bankruptcy petitions in October fell about 17 per cent to 584 from 704 in September. It was the lowest ...

  9. Workers win battle with bosses over orders for unpaid wages

    Posted Apr 29th 2010, 12:00am by Martin Wong

    ... in the District Court, before applying to the court for a writ of execution under which a court bailiff is authorised to seize goods and chattels. When an employer becomes insolvent workers can recover unpaid wages by applying to the government-administered Insolvency Fund. Lawmakers representing business supported the amendment but demanded that the government be considerate in enforcing it. ...

  10. It is radical sharia law which has ruled against interest for Muslims

    Posted Jul 11th 2010, 12:00am by Staff Reporter

    ... need not only to change our tax laws, but also our property laws, our insolvency laws and our securities laws. This entails a cost on the rest of society, which we should not have to bear. ... to his local HSBC for a loan with no feelings of guilt that he is going against a bogus law. Peter Forsythe, Discovery Bay ...




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