By Stephen Briscoe In the eyes of many people in Hong Kong, the most important part of the new corporate rescue legislation is that relating to Insolvent Trading. Very similar to Wrongful Trading in the UK, the purpose of this legislation is to encourage directors of distressed companies to act sooner rather than later, and…
Continue ReadingProvisional Supervision – The Latest Chapter
Following the latest round of consultations, the administration has issued it’s latest views on Provisional Supervision and Insolvent Trading. It has been tweaked a little from its most recent incarnation back in 2011, but in most respects it’s very similar. We understand from the grapevine that it’s going to be introduced to LegCo in the…
Continue ReadingProvisional 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 Legco. As part of the bill there will also be the equally long awaited insolvent…
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