Hong Kong plans to introduce its version of U.S.-style 'Chapter 11' ba...
HONG KONG - Hong Kong plans to introduce its version of U.S.-style “Chapter 11” bankruptcy provisions, a senior government official said, as the city’s worst economic predicament in decades threatens the viability of many companies.
Such a system would give struggling companies a window to restructure their debt while being protected from the threat of legal action by their creditors. “We have recently had more inquiries from companies in difficulty and it is likely there will be an increase in the number of bankruptcies this year,” said Christopher So, a partner in PwC’s business recovery services team in China and Hong Kong.
“This one happens to be a confluence of several events,” he said, referencing the impact of the coronavirus, a Saudi-Russia oil price war, global central banks’ limited capacity for further interest rate cuts as well as “social events in Hong Kong”.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
'Dirty team' doctor in Hong Kong describes life caring for coronavirus patientsA doctor in Hong Kong tasked with treating all suspected and confirmed coronavirus cases inside isolation wards, speaks to Richard Engel about how treating the disease has impacted his life.
Les mer »
Hong Kong will start quarantining everyone who visits from outside the cityCarrie Lam said about 90% of new confirmed cases in Hong Kong in recent weeks have been imported.
Les mer »
Hong Kong to quarantine all visitors to preserve success of coronavirus effortsHong Kong to quarantine all visitors entering the city starting midnight on Thursday to prevent an 'explosion' of coronavirus cases around the world Follow the latest news on coronavirus with our live blog:
Les mer »
Hong Kong's Cathay Pacific to sell six Boeing aircrafts to BOC AviationHong Kong's Cathay Pacific Airways Ltd on Monday said it would se...
Les mer »
Ample Hills Creamery Has Filed for BankruptcyAmple Hills has filed for Chapter 11 bankruptcy, but did not announce plans to permanently close any locations
Les mer »
Hong Kong to quarantine all visitors to preserve success of coronavirus effortsHong Kong to quarantine all visitors entering the city starting midnight on Thursday to prevent an 'explosion' of coronavirus cases around the world Follow the latest news on coronavirus with our live blog:
Les mer »