Regional news: Hong Kong

The Grand Court of the Cayman Islands has asked a counterpart in Hong Kong to recognise a pair of “full power” joint provisional liquidators from R&H Restructuring, as they investigate a fraud admitted by a Chinese car parts trader’s CEO.

20 September 2021

A Cayman court has issued a winding up order against a locally-incorporated investment fund, days after appointing receivers over some of its affiliate’s Hong Kong-listed shares.

17 September 2021

Chinese property developer Evergrande Group has hired Houlihan Lokey and Admiralty Harbour Capital to help with liquidity issues that could lead to a default on its US$300 billion debt pile.

14 September 2021

Shareholders of a leather furniture manufacturer who sought to overturn the sale of its business a year ago on the basis that its judicial managers should have approved a different investment offer, have failed to persuade the Singapore Court of Appeal.

10 September 2021

A Peruvian arm of industrial fishing conglomerate China Fishery Group is pursuing a UK restructuring plan to complete a creditor takeover, alongside a Chapter 11 plan and a Singaporean scheme of arrangement.

09 September 2021

Hong Kong’s Mr Justice Harris has refused to immediately wind up a Bermuda-incorporated coal group, finding the “obvious” place for a potential liquidation would be Bermuda.

03 September 2021

Funding provided by Omni Bridgeway to help a struggling commodity trader pursue an arbitration in Hong Kong has been granted super-priority status in the trader’s Singaporean scheme proceedings.

02 September 2021

Offshore firm Walkers has hired a former Mayer Brown partner in Hong Kong who has credits on the Lehman Brothers and MF Global liquidations and in the multijurisdictional bankruptcy of industrial fishing conglomerate China Fishery.

01 September 2021

A minority shareholding in a Hong Kong company can suffice to wind up a foreign entity in the jurisdiction, even if the underlying assets are in mainland China, Hong Kong’s Court of Appeal has found, denying a BVI entity’s appeal for an injunction against its banks.

26 August 2021

A creditor of Bermuda-incorporated Grand Peace Group Holdings has lost his bid to be substituted as petitioner in its winding-up proceedings to address a jurisdictional question, after a Hong Kong court found he was unable to show a “discernible and real benefit” from his application.

24 August 2021