Hong Kong: Insolvency/Bankruptcy

The Cayman Islands Court continues to refine the boundaries between Restructuring Officer appointments and light-touch Joint Provisional Liquidations, with recent decisions clarifying when each regime is appropriate for distressed companies. As cross-border recognition concerns and governance complexities shape these choices, practitioners must navigate an evolving landscape where the right restructuring tool depends on management capability, creditor engagement, and the need for investigative powers.

The Hong Kong High Court has clarified the scope of powers available to foreign liquidators seeking recognition and assistance in Hong Kong, establishing that the extent of assistance depends critically...

Hong Kong's debt recovery landscape has become increasingly challenging, with corporate insolvencies rising 45% in 2025 and bankruptcy petitions climbing to over 10,000. This comprehensive guide explores the legal pathways available to creditors, from initial demand letters to enforcement mechanisms, and examines when civil litigation versus insolvency proceedings may be the most effective strategy for recovering outstanding debts.

This article provides an overview of the rights and positions of creditors and security holders under Hong Kong law in relation to an entity that has been wound-up (the Wound-up Entity) and its related China company(ies) or person(s) (each a Related Entity) following a Court winding-up order.

Following the making of a winding-up order by the Hong Kong Court, a provisional liquidator or a liquidator can decide whether to apply to the Hong Kong Court for appointment of certain creditors...

This marks a significant step forward in bolstering the protection afforded to employees in Hong Kong in the event of their employers becoming insolvent.

In the recent Hong Kong decision of Re Primlaks (H.K.) Ltd (In Liquidation), the High Court confirmed the liquidators' decision to reject the applicant's proof of debt (POD)...

This Restructuring Officer (RO) regime came into force in August 2022 and since then we have seen a handful of petitions for the appointment of ROs come before the Grand Court.

We sat down with Hong Kong Partner Calvin Chow, who recently joined Harneys from a local onshore firm to get to know him a bit better.