PROTECTING ASSETS IN CHALLENGING TIMES
Through our Insolvency and Restructuring practice, we advise on Hong Kong insolvency laws and assist clients in developing and implementing restructuring plans. Our insolvency and restructuring lawyers have particular experience advising on insolvency issues arising in the context of trading and clearing systems, financial institutions and financial infrastructure. We have advised extensively on the Financial Institutions (Resolutions) Ordinance (“FIRO”).
We have been involved on behalf of clients in discussions with the Securities and Futures Commission (“SFC”) and the Legislative Council (“LegCo”) to shape statutory insolvency protections for financial market infrastructure.
On the insolvency side, our legal team advises Hong Kong's companies on corporate bankruptcy, including both compulsory and voluntary winding up, the commencement, recognition of and ongoing progress of insolvency proceedings, the liquidation and corporate dissolution process, and the appointment and powers of liquidators and committees of inspection. We advise on the enforcement of security and debt covenants including the receivership.
On the restructuring side, our team advises on corporate rescues and corporate turnarounds, including debt restructuring through schemes of arrangement contractual workouts or provisional liquidation, as well as the enforcement and sale of security.
We have advised for Fortune Global 1000 companies, leading financial and commodities exchanges in Hong Kong and abroad, banks, private equity, hedge funds, corporations and private businesses on Hong Kong insolvency laws. We represent lenders, bond and debenture holders, creditors, borrowers, debtors, shareholders and directors and guide them through Hong Kong’s insolvency laws.
We are dedicated to securing stability in instability, safeguarding your assets and interests.
Leveraging more than twenty years of experience serving clients in the financial sector, our firm has carved out a formidable standing as the preferred organisation for businesses in search of tailored and inventive legal guidance.
GETTING THE DEAL DONE
Compulsory Contact Us
We guide clients through Hong Kong’s insolvency laws for compulsory liquidation. These include: company winding up procedures, validation orders and the disposition of property after the commencement of a winding-up, the appointment, powers and duties of liquidators and provisional liquidators, the composition, role and powers of a committee of inspection, the conduct of creditor meetings and examinations of directors, the distribution of liquidation dividends, the rights of creditors and contributories (shareholders), the release of liquidators, the dissolution and de-registration of companies and the re-instatement of dissolved companies.
Voluntary Contact Us
These include members’ voluntary winding-up and creditors’ voluntary winding-up. Our guidance ensures the effective distribution of liquidation dividends, and safeguarding creditor and shareholder rights.
Enforcement Contact Us
We look after the nature, validity, and enforceability of security interests. Our strategies prioritize returns for security holder clients. We manage receivers' appointment, powers, duties of receivers in enforcing security on behalf of a secured creditor, the sale of secured assets and asset hive-offs for optimal results.
Directors’ Duties Contact Us
We also advise on directors’ duty and liabilities, including fiduciary duties in the insolvency zone, unfair preference and fraudulent trading, director disqualification, and prosecution for insolvency related offences under the Companies Ordinance (“CO”) and the Companies (Winding Up and Miscellaneous Provisions) Ordinance (“CWUMPO”).
Corporate Structuring Contact Us
We offer debt restructuring through voluntary negotiated arrangements or court sanctioned schemes of arrangement. These include procedures for pursuing a scheme of arrangement, the requirements for class constitution, approvals and court sanction under the CO, and the possible deployment of a provisional liquidation to create a debt moratorium to pursue a debt restructuring.
Distressed Investment Contact Us
These are strategic options are available to hedge funds and private equity funds in managing investments in distressed portfolio companies.
Our legal team has been recognised by:
“Highly Regarded Lawyer”
“Private Funds Expert”
Restructuring of a Hedge Fund
Lead counsel in connection with the restructuring of a hedge fund following the insolvency of its prime broker during the Global Financial Crisis.
HOW CAN WE HELP?
With deep expertise in insolvency and restructuring, our legal team can help with compulsory liquidations, voluntary liquidations, enforcement of security interests, director's duties and liabilities in the insolvency zone, corporate structuring and reorganisation, and distressed asset solutions.
Contact us if you need assistance.