Amy Ren, Shawn Xu, Lawrence Liu and Vivienne Wei of Llinks Law Offices explain why a revision of China’s bankruptcy regime is on the agenda amid a sharp rise in cases
Innovation continues to fuel Shenzhen s growth--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.
China Focus: China court issues first ruling on personal bankruptcy - China News sina.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sina.com Daily Mail and Mail on Sunday newspapers.
In another groundbreaking decision, the Hong Kong court in
Re Ando Credit Ltd [2020] HKCFI 2775, has appointed provisional liquidators over a Hong Kong-incorporated investment manager for the express purpose of allowing the liquidators to seek recognition in the Mainland. The judgment is the latest in a series of judgments facilitating cross-border recognition and enforcement of assets and takes the degree of potential cooperation envisaged to a new level.
Application unopposed
The petitioner had applied for the appointment of provisional liquidators over Ando Credit Limited (the company) for the purposes of seeking recognition from the Shenzhen Bankruptcy Court. The application was unopposed. The Honorable Mr. Justice Harris commented that he thought it unnecessary to go into the nature of the underlying debt or the background to the application.