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23 Jul 2020

Third party funding agreements and insolvency proceedings

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Re Patrick Cowley and Lui Yee Man, Joint and Several Liquidators of the Company [2020] HKCFI 922 (date of judgment: 27 May 2020)

It is common for insolvency practitioners in Hong Kong to seek Court sanction on third-party litigation funding agreements in light of the law of champerty and maintenance. In this case, the Hong Kong Court clarified that a liquidator does not require Court sanction in order to enter into a third-party funding agreement.

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