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Risks for Transactions and Directors in Financially Distressed Businesses (Hong Kong)
A Practice Note addressing the legal and practical considerations in Hong Kong for a company director where that company is in financial distress and may subsequently enter insolvency proceedings. This Note also outlines the types of claims that an official appointed to oversee the insolvency proceedings or represent the creditors’ interests, or both, may bring against the company’s former directors, or to unwind transactions that took place before any insolvency proceedings.
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This article was first published by Practical Law Global in July 2023.