Legal 500 has published its Asia Pacific 2024 guide and Gall is ranked as a Leading Firm for Litigation (Band 4), Labour & Employment (Band 4), Restructuring & Insolvency (Band 5). Litigation Summary and Testimonials Boutique law firm Gall focuses almost exclusively on dispute resolution, with the specialist Hong Kong practice remaining extremely active in the fields
AsiaLaw Announces Latest Directory Rankings
AsiaLaw has published its latest edition and Gall has received the following recognition: Practice Area Rankings Industry Sector Rankings Nick Gall was recognised as an Elite Practitioner and Chris Wong and Evelyn Chan as Distinguished Practitioners. Client feedback “Professional and efficient.” – Dispute resolution “Gall is reliable, dedicated and provides a quick turnaround time. It is
Gall Advises on the Restructuring of the Century Sunshine Group
The Insolvency Team at Gall continues to advise Century Sunshine Holdings Group Limited (Stock Code: 509) (the “Company”) on its debt restructuring and has successfully secured sanction of a Hong Kong scheme of arrangement (the “Hong Kong Scheme”) (as part of parallel schemes of arrangement in Hong Kong and Singapore). In August 2023, the Honourable Mr Justice Harris sanctioned the Hong Kong Scheme between the Company and 5 of its subsidiaries in the British Virgin Islands and Hong Kong on one hand and their Scheme Creditors on the other: Re Century Sunshine Group Holdings Ltd and Others [2023] HKCFI 2041.
Gall Recognised in Legal 500 Asia Pacific’s 2023 Directory
Legal 500 has published its Asia Pacific 2023 guide and Gall is ranked as a Leading Firm for Litigation (Band 4), Labour & Employment (Band 4), Restructuring & Insolvency (Band 5) and Private Client & Family (Band 3). Litigation Summary and Testimonials ‘Small but very strong’ conflict-free specialist litigation boutique Gall‘s ‘well organised and effective team of
Winding-up a Foreign Incorporated Company in Hong Kong – Nature of Benefits Conferred by a Winding Up Order
Case Background 14th June, 2022 -The Court of Final Appeal (“CFA”) handed down a judgment in Shandong Chenming Paper Holdings Limited v Arjowiggins HKK 2 Limited [2022] HKCFA 11 (“CFA Decision”) yesterday, ruling on the nature of benefits conferred by a winding up order required to wind up a foreign incorporated company. The jurisdiction of
Nick Gall and Ashima Sood Contribute Updated Chapter on Insolvency for ICLG
Nick Gall and Ashima Sood have contributed the Hong Kong chapter for the 2022 International Comparative Legal Guide (ICLG) to Restructuring & Insolvency. The chapter 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 in 25 jurisdictions. Click here to read
Hong Kong Court Recognises Mainland Chinese Reorganisation Proceedings for the First Time
The very first case that the Hong Kong Court recognised and granted assistance to bankruptcy administrators appointed by the Mainland Chinese courts in insolvency proceedings commenced in Mainland China in Re CEFC Shanghai International Group Limited [2020] HKCFI 167. Following the latest developments in the insolvency and restructuring regime, the Hong Kong Court has made further strides towards the enhanced cross-border restructuring cooperation in Re HNA Group Co Limited [2021] HKCFI 2897, in which the Honourable Mr. Justice Harris recognised Mainland Chinese reorganisation proceedings for the very first time (the “Decision”).
Gall Advises on Ongoing Restructuring of Luckin Coffee Inc
Gall is working together with Carey Olsen and Quinn Emanuel Urquhart & Sullivan to advise an Ad Hoc Group of bondholders (“AHG”) in relation to an offshore scheme of arrangement in the ongoing restructuring of Luckin Coffee Inc (“Luckin Coffee”) in Cayman.
A new chapter in cross-border insolvency: the first application by Hong Kong liquidators for recognition and assistance in Mainland China
On 14 May 2021, a cooperation mechanism was established between the Mainland and Hong Kong in the form of the Record of Meeting of the Supreme People's Court and the Government of the Hong Kong Special Administrative Region and Mutual Recognition of and Assistance to Bankruptcy (Insolvency) Proceedings between the Court of the Mainland and the Hong Kong Special Administrative Region and the Supreme People’s Court’s Opinion on taking forward a pilot measure in relation to Recognition and Assistance to Bankruptcy (Insolvency) Proceedings in the Hong Kong Special Administrative Region (the “SPC Opinion”).
Reconsidering the Need for Parallel Schemes of Arrangement
The cautious and prudent approach for distressed companies pursuing a Hong Kong scheme of arrangement is to simultaneously pursue a parallel scheme in their home jurisdiction, even if most if not all of its debts are governed by Hong Kong laws. The rationale is to prevent hostile creditors from disrupting the implementation of the scheme in another jurisdiction, thereby better insulating the distressed company.
