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Changing the legal representative in China is about to become much easier

One of the key challenges for creditors in taking control of a mainland Chinese company in an enforcement type situation is how to remove the “legal representative”. New...

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Not set in stone – Hong Kong court approves post-implementation modifications to scheme of arrangement

The Hong Kong High Court has given a rare order for modifications to a scheme of arrangement after it had been implemented incorrectly by the scheme administrators. Drawing on instances in...

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Liquidator knows best - Hong Kong court rejects bid to force information disclosure on funding and strategy

A Hong Kong court has rejected a bid to force liquidators to provide information and documents regarding their plans and strategies on related litigation as well as information on legal...

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Hong Kong audit regulator reaches landmark agreement over mainland audit papers

Hong Kong’s audit regulator, the Accounting and Financial Reporting Council (AFRC) says it has reached a landmark agreement to help it obtain audit working papers of Public Interest...

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Late disclosure prompts a CPA disciplinary recommendation by the Hong Kong MMT to the AFRC

The Market Misconduct Tribunal (MMT) has recommended that the accountants’ regulator, the Accounting and Financial Reporting Council (AFRC) take disciplinary action against a listed...

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Insolvency in a modern age – Official Receiver filing changes now in force in Hong Kong

New statutory provisions have come into effect that will modernise the way documents are filed with the Official Receiver in Hong Kong. The changes, which took place on the last working day ...

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Ticking the boxes - Hong Kong accountants regulator highlights failings in professional training compliance

The Accounting and Financial Reporting Council (AFRC) has published its 2023 Oversight Report on HKICPA's Performance of Specified Functions (the report). This is the first full year...

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Insolvency and construction in Hong Kong – building in the uncertainties

According to a recent report, nearly 6,000 construction companies in the UK are in danger of going out of business. In Hong Kong, a major contractor has lost its licence and was removed...

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Hong Kong and PRC Restructuring & Special Situations 2023 year in review

Our review of 2023 brings you right up-to-date with the latest developments in restructuring and insolvency law in Hong Kong and the mainland.

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