Category: Provisional Supervision

Insolvent Trading – The Last Piece of HK’s Corporate Rescue Puzzle

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

Provisional Supervision in Hong Kong: Employees’ Pre-Appointment Entitlements

By Stephen Briscoe The treatment of employees and their pre-appointment entitlements is the issue which has caused the previous two failures of this legislation to pass through LegCo. Before considering the current provisions it is worth asking why this part

Provisional Supervision – Meetings, Stress and Snail Mail

Provisional Supervision – Meetings of Creditors and Investigation Powers by Stephen Briscoe First Meeting of Creditors The provisional supervisor is required to convene a first meeting of creditors within 10 business days of the date of his appointment. He must

Who can be Appointed as Provisional Supervisor in Hong Kong?

By Stephen Briscoe Based on the Hong Kong government’s latest proposals, the only people who will be eligible to be appointed as provisional supervisors will be Certified Public Accountants or solicitors with practising certificates. They will be regulated respectively by

Hong Kong’s Provisional Supervision Plans, in Plain English

By Stephen Briscoe Hong Kong’s proposed new legislation on Provisional Supervision and Insolvent Trading has been in the pipeline for the last 20 years or so but before groaning “Oh no, not again,” this time there seems to be a

Provisional 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.

Provisional Supervision Bill: Signs of Commitment?

More on Provisional Supervision and Insolvent Trading by: Stephen Briscoe The administration has now embarked on another round of consultations on the proposed corporate rescue bill and the sense is that there is a real commitment on the part of

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

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