Jul262010

Recent developments in respect of unfair preference claims re: HCCW 755/2005 – Sweetmart Garment Works Limited (in Liquidation)

Introduction An unfair preference claim is (in theory) a powerful tool for liquidators to recover assets of the company when a creditor’s position has been unfairly improved by the company prior to its winding up. However, in practice the tool has rarely been used, and…Read More

Jul252010

Legal update: High Court clarifies remuneration of provisional liquidators

This update considers recent cases that clarify the statutory structure applying to a provisional liquidator’s remuneration. In particular, the cases illustrate the proper construction of Sections 194 and 196 of the Companies Ordinance and demonstrate how the application of the sections has evolved. Background Section…Read More