Hong Kong Personal Insolvency Manual - Third Edition

Extensive expansion of Chapter 1, ‘Introduction to Personal Insolvency in Hong Kong,’ including much more data about Hong Kong personal insolvency law;

• Identification of a dramatic increase in the number of convictions for bankrupts committing offenses under BO, ss 43A, 129 and 134. (Chapter 1);
• Inclusion of many more tables and a few more charts;
• Discussion of legislative updates – eg, the Bankruptcy (Amendment) Ordinance 2016 (1 of 2016) (to address problems relating to the discharge from bankruptcy for absconding debtors) and measures introduced in the aftermath of the COVID-19 pandemic;
• Discussion of Official Receiver’s Office (ORO) Letters to IPs and Circulars – eg, the 2022 ORO Letter to IPs regarding Summary Procedure Order Applications by Provisional Trustees in Bankruptcy Cases and the 2022 ORO Circular regarding Abuse of Bankruptcy Process;
• Examination of how the court handles bankruptcy petitions with reference to the practice directions established by the Hong Kong Judiciary (Chapter 6);
• Discussion of how trustees in bankruptcy administer the finances of the bankruptcy estate under the scrutiny of the ORO (Chapter 7); and
• Exploration of a developing regime of bankruptcy litigation in Hong Kong in which trustees in bankruptcy commence order for sale proceedings against landed properties in Hong Kong originally co-owned by the bankrupt and a solvent co-owner in an attempt to benefit the bankruptcy estate (Chapter 9).