Regional news: Hong Kong

Century Sunshine’s Cayman JPLs secure Singapore recognition

BlackOak is advising the “light-touch” provisional liquidators of Chinese fertiliser company Century Sunshine Group, who have won recognition in Singapore to seek a restructuring of locally-listed notes.

15 December 2020

PwC appointed as Cayman court winds up Altair

A British Virgin Islands investor has secured the winding-up of Hong Kong-based investment manager Altair Asia in the Cayman Islands, five months after its first attempt to obtain an order was dismissed.

14 December 2020

Ogier adds new partners in Hong Kong and Guernsey

Offshore firm Ogier has boosted its global restructuring offering with the appointment of three news partners in Hong Kong and Guernsey.

14 December 2020

IWIRC launches Korea network

The International Women’s Insolvency & Restructuring Confederation has launched a new network in Korea, led by AlixPartners director Jungmin Lee and Alvarez & Marsal manager Jiwon Nam.

08 December 2020

VTB secures winding-up order against Hong Kong company

The Swiss branch of Ireland-registered VTB Commodities Trading has won a winding-up order against a Hong Kong company that owes it substantial US dollar and Euro denominated debts.

08 December 2020

Former Steinhoff CRO Heis returns to KPMG

KPMG’s former global head of restructuring Richard Heis has returned to the Big Four firm, three years after he retired from its partnership.

07 December 2020

Offshore provisional liquidators not entitled to general stay, Hong Kong court rules

A Hong Kong court has clarified that offshore provisional liquidators are not entitled to a general stay of local proceedings following a standard recognition order, in a ruling that has “punctured a long-standing myth” according to one barrister.

20 November 2020

Hong Kong court addresses “difficulties” posed by offshore company structures

A Hong Kong court has adjourned a winding-up petition against a Cayman-incorporated juice company hoping to restructure in the Chinese mainland, as the petitioner failed to show it could realise the value of the company’s listing in Hong Kong.

19 November 2020

Hong Kong miner’s winding-up hearing adjourned amid share dispute

A Hong Kong court has adjourned a winding-up petition against an international mining company for a second time, raising concerns over shareholders’ attempts to convert an equity contribution into a debt claim.

17 November 2020

Hong Kong court allows provisional liquidators to seek first mainland recognition

A Hong Kong court has given the provisional liquidators of a local investment manager permission to seek recognition in mainland China, anticipating a mutual protocol between the jurisdictions as Shenzhen judges raise the possibility of granting foreign recognition for the first time.

16 November 2020

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