"China Evergrande: Liquidation of a Chinese Company Listed in Hong Kong"
Angus Young and Eurus Yiu
International Corporate Rescue (Vol 21 (2024) - Issue 5)
Synopsis: A legal action to wind up China Evergrande was triggered in Hong Kong where it is listed. This created several legal challenges because it tests the enforcement of Hong Kong court order in China. Furthermore, Hong Kong being an international financial hub, it has wider implications for the territory's reputation. This article will briefly probe into the legal actions that triggered the liquidation of the company, discuss the impact it is has on other stakeholders, the enforceability of Hong Kong's court order in China, and consider what future reforms is needed to improve creditors protection.
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