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20 Aug 2020

Cross border insolvency - The Court of Appeal's judgment on the three core requirements 跨境清盘 - 上诉之三项核心要求

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Shandong Chenming Paper Holdings Limited v Arjowiggins HKK 2 Limited - CACV 158/2017 (date of judgment 5 August 2020)

山东晨鸣置业集团股份有限公司 与Arjowiggins HKK 2 Limited案 – CACV 158/2017(判决日期:2020年8月5日)

The three core requirements are factors relevant to the exercise of the Court’s discretion to wind up a foreign incorporated company.  In this case, the Court of Appeal considered the second core requirement.  Despite the fact that Shandong Chenming is a Hong Kong listed PRC incorporated company with no assets in Hong Kong, this does not stop winding up petition from being presented in Hong Kong against it for its failure to honour an arbitration award.

三项核心要求是与法庭行使酌情权向外国公司作出清盘命令的相关因素。在本案中,上诉法院审议了第二项核心要求。尽管山东晨鸣纸业作为在香港上市的中国内地企业,虽然其在香港并没有任何资产,但仍可因其没有支付某项仲裁裁决所判定的款额而在香港被清盘。

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