Clifford Chance

The corporate insolvency process in Hong Kong – key changes in 2016

22 June 2016

The Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 (the Amendment Ordinance) introduces important changes in the way the winding up process is administered although it is not yet clear when the changes will come into force. In the second of two briefings examining the impact of the new legislation, we focus on the changes designed to improve the integrity of existing processes as opposed to implementing any radical reforms. We also ask whether the introduction of the somewhat limited new legislation represents a significant missed opportunity to modernise Hong Kong's antiquated corporate insolvency regime.

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