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  • September 16, 2014
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  1. New law strengthens creditor protection

    Posted Jun 04th 2007, 12:00am by Enoch Yiu

    ... practice and will protect the rights of mainland and international banks lending to Chinese companies,' he said. A few more changes are on the way. The old law allowed only insolvent ... Enoch Yiu The new China Corporate Bankruptcy Law, which took effect last Friday, will enhance protection for creditors and bring the mainland's winding-up legislation in line ...

  2. New corporate restructuring law in HK 'will be welcomed'

    Posted Nov 25th 2009, 12:00am by Staff Reporter

    ... and stakeholders operating under different laws and seeking to use different legal systems and processes to improve the viability of their claims. Some large insolvencies can become real feeding frenzies, ... Kong-based Michael Barker, head of Herbert Smith's restructuring and insolvency practice in Asia, said: 'There have been a small number of insolvencies or restructurings over the past few ...

  3. Charity a last resort to pay owners' $25m debt

    Posted Feb 02nd 2005, 12:00am by Andy Chen

    ... Andy Cheng The government is still looking for some form of 'community charity' to help impoverished Albert House flat owners out of their financial hole, but it will be a last resort, an official said yesterday. Deputy Director for Home Affairs ...

  4. Winding-up guidelines plug gap

    Posted Sep 15th 2005, 12:00am by Enoch Yiu

    ... gap and brings Hong Kong more into line with international practice. The Insolvency Guidance Notes from the Hong Kong Institute of Certified Public Accountants are the first for accountants appointed to wind up companies and aim to outline best practice under the Companies Ordinance. 'Insolvency practice has been largely an unregulated area in Hong Kong, unlike in most other major ...

  5. Oasis founders declared bankrupt

    Posted Sep 01st 2009, 12:00am by Staff Reporter

    ... Yvonne Tsui Founders of defunct Oasis Hong Kong Airlines were declared bankrupt by a High Court judge yesterday over multimillion-dollar debts owed to three creditors. Mr Justice Andrew Chung On-tak in the Court of First Instance made the order against th ...

  6. Dickson wins reprieve from wind-up

    Posted Jun 29th 2006, 12:00am by Nick Gentle

    ... Nick Gentle Judge gives embattled building firm more time to sort out scheme to pay out more than 2,000 creditors Troubled building firm Dickson Construction yesterday won time to formulate a scheme to at least partially pay out more than 2,000 creditors ...

  7. New initiative gives CPAs added skills

    Posted Oct 09th 2010, 12:00am by Chris Davis

    ... Chris Davis The launch of a new specialist insolvency programme by the Hong Kong Institute of Certified Public Accountants (HKICPA) marks a new initiative designed to provide insolvency ... SQ (Insolvency), introduced in June, is aimed at qualified certified public accountants (CPAs) or individuals working in the field of insolvency who already specialise, or wish to become ...

  8. Shareholders left empty-handed as Moulin winds up

    Posted Jun 06th 2006, 12:00am by Toh Han Shih

    ... not been repaid despite demands and there was no dispute that the three companies were insolvent,' he said. The bank petitioned the High Court to wind up the firm, said Ferrier Hodgson ...

  9. SK Global rescue bid falters

    Posted Jul 11th 2003, 12:00am by Jane Moir

    ... Korean reports that talks have broken down and that all deals are off have thrown restructuring negotiations into confusion Negotiations to rescue SK Global were thrown into confusion last night as an offer by foreign creditors to secure a restructuring w ...

  10. Owners face losing their homes as contractor files for payment

    Posted Apr 27th 2006, 12:00am by Felix Chan

    ... months ago, the owners have been barred from putting their properties on the market. Under current laws, if an owners' incorporation is declared insolvent, the creditors can seize ... their homes to pay off debts. Benny Fung Construction & Marine Engineering Limited has sought to have the Incorporated Owners of Man Yuen Building declared insolvent following its failure to repay ...




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