Regional news: Hong Kong

Addleshaw Goddard partner moves to Ashurst in Hong Kong

Ashurst has hired a new partner to its Hong Kong office as part of its plans to capture “rapidly growing” opportunities and client demands in Asia, two months after launching a risk advisory business in the UK.

05 December 2022

Evergrande restructuring plan expected by March 2023

A Hong Kong court has further adjourned the hearing of a winding up petition against Chinese property developer Evergrande on the assurance that the group will provide a restructuring plan for creditors by March next year.

28 November 2022

Omni Bridgeway recruits Stephenson Harwood partner in Hong Kong

Australia-headquartered litigation funder Omni Bridgeway has boosted its offering in Asia with the hire of one of GRR’s recently named “40 under 40” from Stephenson Harwood in Hong Kong.

23 November 2022

IWIRC reveals Asia Women of the Year for 2022

The International Women's Insolvency and Restructuring Confederation has named Alvarez & Marsal managing director Tiffany Wong its Asia Woman of the Year in Restructuring for 2022.

16 November 2022

Hong Kong court sanctions guarantor’s scheme, ditches deed of contribution requirement

A Hong Kong court has sanctioned a guarantor’s scheme of arrangement for the first time, noting that it preferred the Singaporean approach to guarantor’s schemes over the English one, which usually requires a deed of contribution to establish “ricochet” claims between borrower and guarantor to discharge the third-party borrower’s debts.

11 November 2022

Linklaters, Haitong hired as another Chinese property developer halts offshore debt payments

Cayman Islands-incorporated, Shanghai-headquartered property developer CIFI Holdings has hired Linklaters and Haitong International Securities Company for advice on a “holistic” restructuring solution, after suspending all payments on its offshore debt.

02 November 2022

Hong Kong Airlines secures English plan meetings despite creditor opposition

Less than two weeks after it was allowed to proceed with meetings for a Hong Kong scheme, Hong Kong Airlines has won approval to convene creditor meetings for its UK restructuring plan – but the English court has left questions over class composition for the sanction hearing after noteholders complained over a lack of time to review evidence.

25 October 2022

Hong Kong Airlines secures scheme meetings in Hong Kong

Crossing the first hurdle in its dual UK-Hong Kong restructuring, Hong Kong Airlines has won approval to convene scheme meetings in Hong Kong ahead of a separate hearing for its UK restructuring plan next week.

13 October 2022

Peking Uni bondholders secure keepwell deed victory in Hong Kong

In what has been hailed an important milestone for keepwell deeds, which may boost cross-border cooperation between Hong Kong and Beijing, the mainland administrators of Peking University’s corporate arm have lost their bid to appeal a Hong Kong decision allowing bondholder disputes to proceed in Hong Kong.

12 October 2022

Hong Kong Airlines launches dual Hong Kong-UK restructuring

Latham & Watkins, Walkers and Zhong Lun are advising Hong Kong Airlines on a Hong Kong scheme and UK restructuring plan, with parallel proceedings deemed necessary in light of concerns about the Hong Kong courts' attitude to the Gibbs rule.

07 October 2022

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