We have extensive experience in providing services in insolvency and liquidation. Our managing partner, Mr. Paul Ho, and partner, Mr. Arnold Ho, have attained the specialist qualification in insolvency – SQ (Insolvency) by the Hong Kong Institute of Certified Public Accountants.
We provide both corporate and personal services to clients. We understand that each client is unique with special needs, it is our pleasure to serve you. Please feel free to contact us to further discuss your needs and requirements.
An insolvent Hong Kong company incorporated under limited liability is one with net liabilities facing financial problems and cannot carry on its business further. An insolvent company may place itself under creditors’ voluntary winding up or creditors’ compulsory winding up. However, if the company is in a solvent position but intends to close its business, under the Hong Kong laws, the company can choose either de-registration or members’ (shareholders’) voluntary winding up.
Shareholders and potential investors have an option to appoint an accounting firm to conduct an investigation on the financial data and information of the company they invested or are going to invest in.
A typical example of an individual under personal insolvency is that he is in financial distress and has trouble with debt repayment. Normally the creditors would try every possible way to recover their money before declaring the individual bankrupt as the last resort. The alternative way to solve the financial struggle is by undertaking a restructuring plan under the Individual Voluntary Arrangement, which is especially suitable for professionals who may have lost their titles after declaring bankruptcy.