Due to the COVID-19 outbreak, the Hong Kong Courts were closed for several months and thousands of court hearings were adjourned during this General Adjourned Period (“GAP”). Although the Family Court has now reopened there are social distancing measures in place which mean that hearings are continuing to be adjourned. We expect this to be the ‘new normal’ for some time to come.
The ICLG to restructuring and insolvency covers common issues in restructuring and insolvency, including issues that arise when a company is in financial difficulties, restructuring options, insolvency procedures, tax, employees, and cross-border issues.
The Government has announced the much-awaited implementation details of the ESS along with the penalties in case of breach of undertakings. Our most recent update on the details of the ESS can be viewed here.
This practice note considers the applicable legal principles in respect of an application for a springboard injunction as well as key takeaways for employers seeking to protect their businesses when key employees depart.
The Government has recently provided more clarity on the Employment Support Scheme (“ESS”) and expanded its scope.
For directors, the winding up of a company could be judgment day when their past misdeeds come back to haunt them. If insolvency is on the horizon, there are various matters directors should bear in mind lest incurring personal liability if insolvency becomes inevitable.
COVID-19 has created unforeseen challenges for businesses all over the world with an impact so far-reaching that several organisations are no longer able to survive. Governments have swiftly enacted relief measures but the financial consequences of the pandemic on businesses is unprecedented. Some common law jurisdictions have created new insolvency law measures to tackle the uphill struggle businesses face, but what rescue options are available in Hong Kong?
Gall has been ranked a Tier 1 firm for Commercial & Transaction Disputes in Benchmark Litigation’s 2020 rankings. The firm was also ranked a Tier 2 firm for Family & Matrimonial and Insolvency. Nick Gall, Chris Wong and Caroline McNally were recognised as Litigation Stars.