The Law of Corporate Rescue and Reform in Hong Kong
The Hong Kong Government considered reforming the corporate insolvency law back in the mid 1990s. It was never implemented and the Government issued a consultation paper in late 2009 and a consultation conclusion in 2010. This article will look at first the existing two major Hong Kong quasi corporate rescue schemes and some of their problems. It is proposed that the 2009 Consultation solves most of the problems but seems to have failed to consider the possibility of management initiated corporate rescue.