HK Bankruptcy Discharge Objections: A Word to the Wise by Wong Teck Meng Prior to 1998 it was relatively rare for a person in Hong Kong who was made bankrupt ever to get their discharge from bankruptcy. This was because they had to satisfy a number of strict criteria, which for most bankrupts were impossible…
Continue ReadingBankruptcy (Amendment) Bill 2015
By Rosenna Mak In a previous post in November 2015 entitled “Bankruptcy – The Unconstitutionality of the Discharge Provisions”, we referred to a draft Bankruptcy (Amendment) Bill 2015 being put before LegCo for the purpose of addressing the CFA’s ruling on the unconstitutionality of certain of the existing discharge provisions. On 17 March 2016, LegCo…
Continue ReadingBankruptcy – The Unconstitutionality of the Discharge Provisions
By Rosenna Mak The Hong Kong Court of Final Appeal (“CFA”) recently upheld the decision of the Court of Appeal and ruled that s.30A(10)(a) of the Bankruptcy Ordinance (“BO”) is unconstitutional. To recap; s.30A(10)(a) of the BO provides that the bankruptcy period does not start running if a bankrupt has left Hong Kong before the…
Continue ReadingDischarge From Bankruptcy – The Latest
By Rosenna Mak Although we are still waiting for the Court of Final Appeal to hear arguments regarding the constitutionality or otherwise of the discharge provisions contained in s.30A(10)(a) of the Bankruptcy Ordinance, the Administration has already responded to the decision, see here, by placing before LegCo a draft bill which is aimed squarely at…
Continue ReadingBankruptcy – The Matrimonial Home
By Nichole Chan Whose interests should prevail in bankruptcy: the interests of the bankrupt’s creditors or his/her innocent spouse and dependents? A recent case before the Hong Kong Court confirmed that, in the majority of cases, it is the former When the Bankruptcy (Amendment) Ordinance (“BO”) was introduced in 1998, one of the main changes…
Continue ReadingBankruptcy Discharge – Thorny Issues
By Stephen Briscoe Prior to 1998 it was relatively rare for a person who was made bankrupt in Hong Kong ever to get their discharge from bankruptcy. This was because they had to satisfy a number of strict criteria, which for most bankrupts were impossible to achieve. With the introduction of the automatic discharge provision…
Continue ReadingConstitutionality of Bankruptcy Discharge Provisions Challenged (update)
By Rosenna Mak Just a brief update on our article entitled “Constitutionality of Bankruptcy Discharge Provisions Challenged” published last month reporting that section 30A(10)(a) of the Bankruptcy Ordinance had been ruled to be unconstitutional by the Court of Appeal. Due the significance of that ruling, a stay of the execution of the judgement was granted,…
Continue ReadingConstitutionality of Bankruptcy Discharge Provisions Challenged
S.30A(10)(a) of the Bankruptcy Ordinance is Challenged – Unconstitutional By Stephen Briscoe and Rosenna Mak A few months ago, we published an article entitled “Discharge from Bankruptcy or Trustee Forever” where we discussed the position of the release of a trustee when the debtor was not in the jurisdiction at the time of the bankruptcy order…
Continue ReadingBankruptcy – Adjustment of Priority of Creditors’ Costs
The question recently arose in Hong Kong whether a creditor, who has taken action prior to the start of a bankruptcy and whose actions have resulted in the preservation of assets for the general body of creditors, should be able to receive any priority in respect of the costs they have incurred. Strictly there is…
Continue ReadingDischarge From Bankruptcy or Trustee Forever!!
By Rosenna Mak Following the Bankruptcy (Amendment) Ordinance 1996, which came into effect on 1 April 1998, the concept of a bankrupt being entitled to an automatic discharge was introduced to allow a bankrupt to become financially rehabilitated. Under the new provisions, a bankrupt is automatically discharged unless the trustee or a creditor objects. A…
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