GRR Live, Restructuring in Asia: winding up orders and the evolution of recognition
(left to right) Sophie Lyall, Phoebe Lo, Eva Sit KC, Jane Hale and Nigel Trayers
Recent shifts in Hong Kong jurisprudence have made winding up petitions easier, while Mr Justice Harris’ judgment in Global Brands Group – where he said common law recognition of foreign insolvencies should be assessed on COMI grounds rather than place of incorporation – has reignited the argument for ancillary proceedings. Panellists at GRR Live: Restructuring in Asia considered how courts and practitioners in Hong Kong and offshore are adapting to the changing circumstances.
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