Partner Evelyn Chan has been quoted extensively in a The Standard article on insolvencies in Hong Kong. In the first 11 months last year, bankruptcy filings increased by 7.29 percent to 7,980 from a year ago, data from Official Receiver’s Office showed. A total of 409 compulsory winding-up petitions were presented, rising by 7.63 percent year-on-year.
Evelyn believes the effects of the pandemic have not yet been fully reflected in the figures, as Hong Kong Court hearings have been disrupted amid the pandemic, resulting in more delays.
In the article, Evelyn also explains the process of provisional liquidation and explores soft-touch provisional liquidation – where the company’s directors will remain in the management while the provisional liquidator is appointed for restructuring purposes only, and they work together on a restructuring plan.
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