The Hong Kong court has granted an order forcing an uncooperative former director of a Hong Kong listed company to ratify the appointment of a Hong Kong liquidator as the sole director.
<p><i> 11 minutes </i></p><p>In Hong Kong, a foreign company can be wound up via the "recognition route" (whereby a winding-up order is obtained from the company's place of incorporation then enforced in Hong Kong) or the "direct route" (whereby the Hong Kong Companies Court has the power to directly make a winding-up order against a non-Hong Kong company). A recent decision consolidates the previous line of cases that have preferred the direct route and reflects a shift in the courts' attitude.</p>
Deja vu? Hong Kong court orders winding-up of Bermuda-based listco despite PLs objections lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.
The Court of First Instance held in Re Up Energy Development Group Limited [2022] HKCFI 1329 that where the three core requirements for winding-up a foreign company under section 327(1).
In Shandong Chenming Paper Holdings Limited v Arjowiggins HKK2 Limited [2022] HKCFA 11, the Court of Final Appeal has confirmed that the "leverage" created by the prospect of a.