Vol 16 (2019) - Issue 5

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Recognition of Foreign Insolvency in Hong Kong

Synopsis
In Japan Life Co. Ltd (application by Mr. Kaoru Takmatsu) the Hong Kong court granted recognition and assistance in relation to a non-common law insolvency of a Japanese company. This was the first time the Court had received a letter of request from a court in a civil law country. This article reviews how this common law jurisdiction has matured over the last five years into a straightforward efficient procedure based upon the application of settled principles even without any statutory support, culminating in this latest decision applying such principles.