In brief
In the recent decisions in Re The Joint and Several Provisional Liquidators of Agritrade Resources Ltd (in Provisional Liquidation in Bermuda) [2020] HKCFI 1967 (HCMP 925/2020, 18 August 2020) (“Re Agritrade”) and Re The Joint and Several Provisional Liquidators of Rare Earth Magnesium Technology Group Holdings Ltd (in Provisional Liquidation in Bermuda) [2020] HKCFI 2260 (HCMP 1274/2020, 3 September 2020) (“Re Rare Earth”), Justice Harris re-affirmed the Hong Kong Companies Court’s willingness to recognise foreign provisional liquidators appointed on a soft-touch basis for restructuring purposes. The two cases also provide a timely reminder that recognition of foreign provisional liquidators from other common law jurisdictions for restructuring purposes is considered an accepted and increasingly common occurrence in Hong Kong.
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