Insolvency lawyers in Hong Kong

Insolvency Lawyers in Hong Kong

Our team of insolvency lawyers and litigators regularly act in high profile insolvencies and corporate collapses in Hong Kong.

Guzman El Bueno Lawyers specialist team of insolvency lawyers and litigators are able to advise on all areas of contentious insolvency, including:

  • Advising appointment takers and insolvency practitioners
  • Identification and realisation of assets in insolvent estates
  • Pursuing recovery actions on behalf of appointment takers
  • Obtaining validation orders
  • Enforcement of security
  • Creditor services
  • Investigations and examinations
  • Ex parte applications for the appointment of provisional liquidators
  • Advising on cross border insolvency issues
  • General advice in respect of terminal and non-terminal companies
  • Advising directors on their duties and liabilities

Frequently asked questions

It means a company can no longer meet its financial obligations to its lenders as debts become due.

  • A members’ voluntary liquidation;
  • A creditors’ voluntary liquidation; and
  • A compulsory liquidation ordered by the Court.

Our team of specialist insolvency lawyers and litigators can provide expert advise on the procedures for winding up a company, the disposition of property after the commencement of winding-up and applications for validation orders.

When a company goes into liquidation its assets are sold to repay creditors.

Our insolvency lawyers and litigators offer a wide range of creditor services including advice on making claims, submitting proofs of debt and arranging attendance at creditors’ meetings.

If the company has a genuine dispute to the debt in question, it can apply for an injunction to prevent a winding up petition from being presented.

Guzman El Bueno Lawyers team of insolvency lawyers and litigators can advise on how to apply to court for an injunction to restrain the issue of a creditor’s petition to wind up a company thereby stopping the company from going into liquidation.

No, our expert insolvency lawyers and litigators note that you don’t have to present a statutory demand before a winding up petition.

Guzman El Bueno Lawyers team of insolvency lawyers and litigators recommends that the company should consider whether it has a genuine dispute to the debt in question. If so, it can contest the petition.

Yes, the Hong Kong Court does have jurisdiction to wind up a foreign non-registered company.  Such jurisdiction may be exercised if the following requirements are satisfied:-

  1. The company has a sufficient connection with Hong Kong;
  2. There is a reasonable possibility that the winding up order would benefit those applying for it; and
  3. The Court must be able to exercise jurisdiction over one or more persons in the distribution of the company’s assets.

Our team of insolvency lawyers and litigators are well versed on cross-border insolvency issues.

Directors’ powers cease once liquidators are appointed and a winding up Order is made.  The liquidators will investigate the company’s affairs and assets during liquidation.  The liquidators may investigate and pursue the directors and other officers of the company if there is any misconduct on their part (e.g. fraudulent trading, unfair preference, misappropriation of assets, concealment of books and records, etc.).

There may be criminal consequences on the officers, so the officers concerned should seek legal advice from our specialist team of insolvency lawyers and litigators as soon as possible.