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eNews
Hong Kong Court of Final Appeal Clarifies the Requirements to Wind-Up Foreign Companies
In a recent case of Shandong Chenming Paper Holdings Limited v Arjowiggins HKK 2 Limited [2022] HKCFA 11, the Court of Final Appeal of Hong Kong (“CFA”) confirmed that for the purposes of winding up foreign incorporated companies, the “leverage” created by the prospect of a winding-up action can be a form of “benefit” under the requirement that the winding-up order would benefit those applying for it. In particular, the CFA showed willingness to adopt a pragmatic approach in assessi...
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China Updates
Proposed New Amendments to the China Company Law
On 20 December 2021, the “Company Law of the People’s Republic of China (Draft for Revision) 中华人民共和国公司法(修订草案) (the “Draft”) was submitted to the Standing Committee of the National People’s Congress for deliberation and it was then made available for public comments. Enacted in 1993, China’s current Company Law has gone through many revisions including amendments to several provisions in 1999 and 2004, a comprehensive revision in 2005, and two important ame...
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