Hong Kong on Insolvency/Bankruptcy

The Hong Kong Government received 37 submissions from the public in July 2024 regarding the Construction Industry Security of Payment Bill ("Bill") and held discussions with deputations from different stakeholders at a LegCo meeting on 16 July 2024.

The discussion, led by Justin Yip (Singapore), Gary Leung (Hong Kong), and Lam Zhen Yu (Singapore), provided valuable insights for restructuring and insolvency practitioners.

The update arises because of the widely reported Privy Council decision in Re Sian Participation Corp that the English Court of Appeal's decision in Salford Estates was wrongly decided and should no longer...