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Although Hong Kong has neither enacted nor launched any plan to enact a statute addressing cooperation and assistance on cross‐border insolvency matters, recently, a unique Hong Kong approach dealing with recognition and assistance in cross‐border insolvency is gradually forming under common law. Thanks to the efforts made by the Companies Court of the Hong Kong High Court, insolvency representatives...
The birth of the law on enterprise bankruptcy of the People's Republic of China in 2006 was highly acclaimed. It was generally regarded as a modernized comprehensive legislative work at home and abroad. The “territorialism” approach adopted therein respecting foreign bankruptcy proceedings, however, has received floods of criticism ever since. It has left a great legal vacuum for the protection of...
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