Page 31 - ஹாங் காங் நிறுவனம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Despite a tough period for businesses in Hong Kong the introduction of a corporate rescue procedure remains elusive, says Johnson Kong, Managing Director at BDO Hong Kong Not all jurisdictions offer companies the breathing space in which to restructure while keeping creditors at bay. In Hong Kong, for example, although recommended by the Law Reform Commission back in 1996, the introduction of a corporate rescue procedure called “provisional supervision” is still in the making. Under administration in the UK – or Chapter 11 in the US – restructuring can take place with a moratorium on legal action. However, such mechanisms are currently out of reach in Hong Kong. Despite several promising first steps, they remain elusive, says Johnson Kong, Managing Director at BDO Hong Kong, an ICAEW Fellow and the Immediate Past President of the Hong Kong Institute of Certified Public Accountants (HKICPA). 

Hong kongUnited kingdomJohnson kongHong kong institute of certified public accountantsLaw reform commissionManaging directorImmediate past presidentHong kong instituteCertified public accountantsHong kong listedMainland chineseHong kong governmentInsolvency fundInaugural chairInsolvency facultyExecutive committee