Liquidation

We have extensive experience and expertise in handling liquidation and insolvency cases. We have leading expertise in handling liquidation and Insolvency cases. Our managing director, Dr. Gary Cheng, is a professional insolvency practitioner and is one of the first batch of CPAs to obtain the professional insolvency qualification granted by Hong Kong Institution of Certified Public Accountants and Faculty of Law in University of Hong Kong.

 

If shareholders do not obtain an understanding of related formalities when planning to terminate the company, this possibly results in the breach of relevant legislations due to ignorance and limited knowledge. If the segments are severe in nature, this can induce to arrest or influence the free entry and exit in Hong Kong.

 

Scope of Liquidation and Insolvency services include:

 

Members’ Voluntary Liquidation (MVL)

Shareholders resolve to wind up the company with the following conditions:

  • A completed account of record of company is needed.
  • Consents are obtained from the majority shareholders by passing resolution in extra-ordinary general meeting.
  • A liquidator must be appointed to supervise and handle the whole procedures of liquidation.

 

Creditors' Voluntary Liquidation (CVL)

Creditors' Voluntary Liquidation is a process by which the directors of a company hold a meeting with the shareholders and creditors to place the company into insolvent liquidation.

 

Conditions are as follows:

  • A completed account of record of company is needed.
  • The company no longer continue its business operations.
  • Liquidator of the company is appointed by creditors to monitor and handle the procedures of liquidation.
  • Liquidator must be a Certified Public Accountant.

 

Court Compulsory Liquidation (CCL)

The company itself, its creditors, the Company Registry or the officer of company can petition an order for liquidation in the court. The court will delegate a liquidator after issuing the order of liquidation. The official receiver can also act as a temporary liquidator.

 

For further query, please contact us by +852 2199 7656 or by email. We will contact you shortly. All information will be handled in strictly confidential manner.

 

28 February 2018

The new requirements - Significant Controller Registration Effective from 1 March 2018 More...

23 January 2018

Change of Office Hours from 1 Feb 2018 More...

17 December 2017

Christmas Party of Gary Cheng Group 2017 More...