Year: 2011

Regulating Order Obtained in Yu Kee Food Company Limited (In Compulsory Liquidation)

Following the winding-up of the Company on 29 August 2011, Nichole Chan and Stephen Briscoe were appointed joint and several liquidators of the Company on 26 October 2011. This appointment was made by way of a Regulating Order pursuant to

Hong Kong Diploma in Insolvency

The results of the 2010/11 Diploma in Insolvency programme are now out and it is with great pleasure that we can announce that our own Nichole Chan and Rosenna Mak both passed the Diploma course, so congratulations to both of

Protection of Wages on Insolvency Fund (Update 1)

A few weeks ago we drew attention to the proposed changes to the Protection of Wages on Insolvency Fund (“PWIF”) which would mean that employees could be paid up to a maximum of HK$10,500 by the PWIF in respect of

Provisional Liquidators Appointed in Yu Kee Food

On 19 August 2011, Mr Stephen Briscoe and Ms Chan Pui Sze, both of Briscoe Wong Advisory, were appointed joint and several provisional liquidators of Yu Kee Food Company Limited (“Yu Kee”) by the High Court of the Hong Kong SAR.

Protection of Wages on Insolvency Fund

The Hong Kong government is going to amend the Protection of Wages on Insolvency Fund legislation to allow payments to be made to employees of insolvent companies in respect of unpaid holiday pay.  Employees who are owed wages, wages in

Provisional Supervision in Hong Kong

You might remember in early 2009 the fanfare that greeted the government’s proposals to re-introduce Provisional Supervision. Well, we are now over two years down the road, with a lengthy consultation period behind us, only to find that the bill

Specialist Designation in Insolvency

The Hong Kong Institute of Certified Public Accountants (HKICPA) awarded the first Specialist Designations in Insolvency  at a ceremony on 27 June 2011 at The JW Marriott Hotel.  The event was attended by more than 100 members of the insolvency

New Official Receiver in Hong Kong

A new Official Receiver takes over the Official Receiver’s Office on 29 June 2011 when Ms Teresa Wong Siu-wan steps into the position left by Mr ET O’Connell who is retiring. As noted in the press release, the new Official

Litigation Funding for Liquidators: A Coming of Age in Hong Kong

Over the years, liquidators in Hong Kong have frequently been faced with situations where they have established claims by a company in liquidation against third parties, but they have been unable to pursue them because they don’t have sufficient money

Provisional Supervision And (More Importantly) Insolvent Trading

Provisional Supervision legislation has been talked about for many years and at long last it appears to be on its way. Government has issued its latest take on the issue and has indicated its intention to introduce a bill to