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Edmund Ma

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In brief On 6 May 2022, the Honorable Madam Justice Linda Chan granted a petition for the winding-up (in Hong Kong) of Up Energy Development Group Limited, which was incorporated in Bermuda. Her Ladyship held, among other things, that if a foreign company is not ordered to be wound up in Hong Kong, the Hong Kong court does not have power under the common law to confer any powers on the company’s liquidator appointed in…

In brief On 14 May 2021, the Supreme People’s Court (SPC) and the Hong Kong government agreed a framework (“Framework”) for judicial cooperation in corporate insolvency and debt restructuring. Under the Framework: A Mainland bankruptcy administrator may apply to the Hong Kong High Court for recognition of and assistance to Mainland bankruptcy proceedings. A Hong Kong liquidator or provisional liquidator may apply to the Intermediate People’s Court at a designated pilot area for recognition of…