Bringing corporate rescue laws to Hong Kong: a reform too big to fail?

Ho, JKS and Price, R, Bringing corporate rescue laws to Hong Kong: a reform too big to fail?, Business Law International, 12, (1) pp. 71-92. ISSN 1467-632X (2011) [Refereed Article]

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Copyright 2011 International Bar Association

Official URL: http://www.ibanet.org/Publications/publications_business_law_international.aspx

Abstract

In October 2009, the Financial Services and the Treasury Bureau of the Hong Kong Government published a consultation paper to review corporate rescue procedure with the aim of reforming key issues relating to corporate rescue. This article compares the proposed reform in Hong Kong and Australia's voluntary administration under Part 5.3A of its Corporations Act, and seeks to identify what the former can learn from the letter's model in reforming its corporate rescue framework. In the final analysis, it is argued that the experiences of Australia on the matter provide good insight for Hong Kong.

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