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Recent Development in Recognition of and Assistance to Foreign Insolvency Representatives Under the Hong Kong Common Law
Li, Xiaolin; Tu, Guangjian
2018-03
Source PublicationINTERNATIONAL INSOLVENCY REVIEW
ISSN1180-0518
Volume27Issue:1Pages:32-57
AbstractAlthough Hong Kong has neither enacted nor launched any plan to enact a statute addressing cooperation and assistance on cross-border insolvency matters, recently, a unique Hong Kong approach dealing with recognition and assistance in cross-border insolvency is gradually forming under common law. Thanks to the efforts made by the Companies Court of the Hong Kong High Court, insolvency representatives appointed in the place of incorporation of the debtors may, firstly, be accorded a certain degree of automatic recognition and cooperation based on traditional private international law rules without going through a recognition procedure and, secondly, be recognized and granted active assistance under principle of universalism at common law. With regard to the limits of this common law power, the court has referred to but not strictly followed the British Privy Council's decision in Singularis Holdings Limited v. PricewaterhouseCoopers (Singularis) and instead followed the previous approach in Cambridge Gas Transport Corp v. Official Committee of Unsecured Creditors (of Navigator Holdings PLC and others) (Cambridge Gas). The Companies Court also attempted to simplify and facilitate the application and grant of this common law recognition and assistance through a series of innovations. Copyright (C) 2018 INSOL International and John Wiley & Sons, Ltd.
DOI10.1002/iir.1295
URLView the original
Indexed BySSCI
Language英语
WOS Research AreaBusiness & Economics ; Government & Law
WOS SubjectBusiness, Finance ; Law
WOS IDWOS:000430390700003
PublisherWILEY
The Source to ArticleWOS
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Document TypeJournal article
CollectionUniversity of Macau
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GB/T 7714
Li, Xiaolin,Tu, Guangjian. Recent Development in Recognition of and Assistance to Foreign Insolvency Representatives Under the Hong Kong Common Law[J]. INTERNATIONAL INSOLVENCY REVIEW,2018,27(1):32-57.
APA Li, Xiaolin,&Tu, Guangjian.(2018).Recent Development in Recognition of and Assistance to Foreign Insolvency Representatives Under the Hong Kong Common Law.INTERNATIONAL INSOLVENCY REVIEW,27(1),32-57.
MLA Li, Xiaolin,et al."Recent Development in Recognition of and Assistance to Foreign Insolvency Representatives Under the Hong Kong Common Law".INTERNATIONAL INSOLVENCY REVIEW 27.1(2018):32-57.
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