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25 Jan 2022

Cross border insolvency - second application by Hong Kong liquidators to seek recognition and assistance in Mainland China

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Zhaoheng Hydropower (Hong Kong) Limited (In Liquidation) [2022] HKCFI 248 (date of decision: 20 January 2022)

The recent case of Zhaoheng Hydropower (Hong Kong) Limited (In Liquidation) is the second application made by liquidators in Hong Kong to seek recognition in Mainland China under the cooperation mechanism implemented between Hong Kong and Mainland China on recognition and assistance in cross border insolvency (the "Cooperation Mechanism"). For details of the Cooperation Mechanism, please see our previous article here.

The first application for recognition made in Samson Paper Company Limited (In Creditors’ Voluntary Liquidation) (see our previous article here) was approved by the Shenzhen Intermediate People’s Court in December 2021.  It is the first case in which a Mainland court has formally recognised and assisted a liquidator appointed by the Hong Kong Court. 

Click here to read more.

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