Company Formation Hong Kong

CHECK COMPANY
NAME AVAILABILITY (Step 1)



Articles

The Bankruptcy Procedure in Hong Kong

Updated on Friday 20th May 2016

Rate this article
5 5 1
based on 0 reviews


The-Bankruptcy-Procedure-in-Hong-Kong.jpgBankrupt companies in Hong Kong

 
The main goal of the bankruptcy procedure in Hong Kong is to satisfy all the claims of the creditors. The assets of the bankrupt company or individual are gathered and distributed accordingly among the creditors. The bankrupt company in Hong Kong must observe the provisions of the Bankruptcy Ordinance and such a company will have to comply with the duties that arise during this procedure.
 
Our Hong Kong company formation agents can help you and your company if you are going through a bankruptcy procedure.
 

The main stages of bankruptcy in Hong Kong

 
The first stage of the bankruptcy procedure begins with the bankruptcy petition. This can be filed by the creditor who is owed an amount of money by the company that can no longer pay its debts or by the company itself if its members believe that the corporation will be unable to make any more payments to third parties.
 
The bankruptcy petition is presented to a court in Hong Kong and a court hearing follows afterwards. The Court issues a bankruptcy order and following this stage the company will have to allow its assets to be collected by an appointed individual, the appointed Trustee and then distributed to its creditors.
 
Our company formation representatives in Hong Kong can give you detailed information about the court proceedings and the special provisions of the bankruptcy order issued by court.
 

Assistance during the bankruptcy procedure in Hong Kong

 
A bankrupt company in Hong Kong will have to fully comply with the requirements of the Trustee. The bankrupt must disclose all information regarding its assets, liabilities, financial issues and other relevant information. The company is to cooperate with the Trustee during the investigation of the bankruptcy and the distribution of the assets.
 
Creditors that want to receive their payments from a bankrupt company must complete a Proof of Debt Form to prove that the bankrupt has due payments and they must submit this proof to the Trustee. Our company registration experts in Hong Kong can give you more details about the rights of the creditors.
 
For more information about bankruptcy in Hong Kong and possible bankruptcy offences punishable by law, you can contact our Hong Kong company formation specialists.
 
 

Comments

There are no comments

Comments & Requests


Please note that client queries should NOT be posted here but sent through our Contact page.

Meet us in Hong Kong

Call us now at + 852 8191 3385  to set up an appointment with our company formation experts in Hong Kong. As a DM Advisory client, you will benefit from the joint expertise of local lawyers and consultants for opening an offshore company in Hong Kong.

We offer:

- prompt response to your inquiry (maxim 24 hours);

- cost-efficiency: competitive company formation prices;

- free and complete legal information featured on our site, at your disposal.

Tax Calculator

tax-calculator-hong kong

Testimonials

Francesco-Dagnino.jpg

I have been working with partners at OpenCompanyHongKong.com for several years now and I am extremely pleased with their services. Their team helped my clients extend their businesses in Hong Kong.

Francesco Dagnino, Partner of
Lexia Avvocati
www.LawyersItaly.eu

Read more testimonials

We Recommend ClientPedia

This website is marketed by ClientPedia

Banner-Promoting ClientPedia-244px.jpg

We accept online payments

paypal-logo.png