Corporate Rescue: Hong Kong Developments

American Bankruptcy Institute Law Review, Vol. 10, No. 1, 2002

Posted: 7 Jan 2010 Last revised: 12 Feb 2010

See all articles by Charles D. Booth

Charles D. Booth

Institute of Asian-Pacific Business Law, William S. Richardson School of Law, University of Hawaii at Manoa; University of Hawaii at Manoa - William S. Richardson School of Law

Philip Smart

The University of Hong Kong - Faculty of Law

Date Written: 2002

Abstract

In the mid-1990s, the Law Reform Commission in Hong Kong began considering reforms to Hong Kong corporate rescue procedures and recommended the enactment of a regime to be called “provisional supervision” - with marked similarities to the corporate voluntary administration in Australia. With the onset of the Asian financial crisis, and seemingly ever-rising levels of insolvency in Hong Kong, corporate rescue has remained a high-profile topic. Until now, re-structurings in Hong Kong have been conducted wholly outside of a modern statutory rescue framework. But, finally, it seems Hong Kong is close to putting its own corporate rescue regime on the statute books, following the gazetting in May 2001 of the Companies Bill 2001. Yet, even now in early 2002, some doubts remain as to the future of the bill.

Suggested Citation

Booth, Charles D. and Smart, Philip, Corporate Rescue: Hong Kong Developments (2002). American Bankruptcy Institute Law Review, Vol. 10, No. 1, 2002, Available at SSRN: https://ssrn.com/abstract=1532372

Charles D. Booth (Contact Author)

Institute of Asian-Pacific Business Law, William S. Richardson School of Law, University of Hawaii at Manoa ( email )

University of Hawai'i at Manoa
2515 Dole Street
Honolulu, HI 96822-2328
United States

University of Hawaii at Manoa - William S. Richardson School of Law ( email )

2515 Dole Street
Honolulu, HI 96822-2350
United States

Philip Smart

The University of Hong Kong - Faculty of Law ( email )

Pokfulam Road
Hong Kong, Hong Kong
China

Do you have negative results from your research you’d like to share?

Paper statistics

Abstract Views
1,264
PlumX Metrics