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Restructuring & insolvency lawyers at Timothy Loh LLP represents clients in the most challenging and complex restructuring and insolvency matters. We have guided some of the world’s largest companies on Hong Kong insolvency laws. We have issued insolvency opinions for clearing systems handling millions of contracts each day with daily cleared values exceeding US$5 billion.
We represent companies and individuals in insolvency litigation and advise on the full range of insolvency laws. Our experience extends to the restructuring of debt, the appointment of receivers, the availability of set-off, the effect of security interests, director duties in the insolvency zone, strategies to address major liquidity problems and the full range of issues arising under Hong Kong corporate bankruptcy laws.
We have extensive experience with the application of Hong Kong insolvency law to financial market transactions and the application of the Financial Institutions (Resolution) Ordinance to financial market infrastructure. We have particular experience with the application of Hong Kong insolvency laws to clearing houses in the event of a default of a clearing member.
In insolvency litigation, we have guided clients through winding-up proceedings, including the full range of liquidator processes seeking asset recovery upon the winding-up of companies.
Compulsory
Liquidation
Contact Us We guide clients in respect of compulsory liquidation, representing debtors and creditors in respect of statutory demands, winding-up petitions, the contesting of winding-up petitions, restructuring proposals in the context of a winding-up, validation orders and the disposition of property after the commencement of a winding-up, the appointment, powers and duties of liquidators and provisional liquidators, the composition, role and powers of a committee of inspection, the conduct of creditor meetings and examinations of directors, the distribution of liquidation dividends, the rights of creditors and contributories (shareholders), the release of liquidators, the dissolution and de-registration of companies and the re-instatement of dissolved companies.
Insolvency
Restructuring & Transactions
Contact Us We advise on distressed debt focused transactions and the rescue of insolvent companies. We advise on debt restructuring through voluntary negotiated arrangements or court sanctioned schemes of arrangement. Our advice extends to procedures for pursuing a scheme of arrangement, the requirements for class constitution, approvals and court sanction under the Companies Ordinance. We guide clients on the possible deployment of a provisional liquidation or the use of the liquidation process to create a debt moratorium to pursue a debt restructuring. We have significant experience with mergers and acquisitions in the context of the enforcement of security interests.
Enforcement
of Security
Contact Us We advise on the validity, and enforceability of security interests. Our strategies prioritize returns for security holder clients. We manage receivers' appointment, powers, duties of receivers in enforcing security on behalf of a secured creditor, the sale of secured assets and asset hive-offs for optimal results.
Director Duties in
Insolvency
Contact Us We advise on directors’ duties and liabilities, including fiduciary duties in the insolvency zone, unfair preference and fraudulent trading, director disqualification, and prosecution for insolvency related offences under the Companies Ordinance (“CO”) and the Companies (Winding Up and Miscellaneous Provisions) Ordinance (“CWUMPO”).
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