Bankruptcy, Restructuring and Insolvency
Companies face an array of challenges from changing market environments, new business models, evolving competitors, and unforeseen risks. Businesses at any point in their lifecycle may find themselves facing financial difficulties. Through our deep market knowledge in Hong Kong and mainland China, our Bankruptcy, Restructuring and Insolvency practice delivers the services and solutions to assist our valued clients through challenging times.
Notable Experience*
• Represented a listed developer to oppose a winding up petition based on their failure to redeem the bond in the sum of USD$15 million before the maturity date.
• Represented the Department of Justice of the HKSAR to commence numerous winding up/bankruptcy proceedings (over 50 cases) against the Government’s debtors. Lodged proofs of debt with the liquidators for distribution of assets after obtaining the winding up/bankruptcy orders.
• Represented a listed securities company to commence bankruptcy proceedings against the borrower of a margin loan of over HK$20 million.
• Represented a Chinese footwear manufacturer to commence winding up proceedings against a Hong Kong Company purchaser for their failure to pay the contract price in the sum of HK$70 million.
• Represented the liquidators of a company in recovering the dissipated assets of the company for the creditors under the Companies Ordinance on the ground of unfair preference.
• Represented a creditor of a company in liquidation to challenge the composition of the committee of inspection.
• Acted as the legal adviser for the liquidators of a company in a complicated winding up case involving cross border issues.
* Includes experience from partners prior to joining Jingtian & Gongcheng.
