Past Events

Bankruptcies have been rising among businesses of all sizes amid the challenges of Covid-19. from January through to July 2020, there were 5,219 compulsory bankruptcy petitions and 247 compulsory winding-up petitions -- representing year-on-year increases of 13.7% and 5.1% respectively.

At a webinar on 19 April, Desmond Liaw and Ellie Cheung, respectively Partner and Associate at MinterEllison LLP, discussed how directors should go about navigating the challenges of an insolvent company, or one that is likely to become insolvent. In particular, they highlighted the duties and potential personal liabilities of directors, including the potential consequences related to misfeasance, breach of duty or trust in relation to the company, as well as fraudulent trading. They also shared some information about the components of the proposed Companies (Corporate Rescue Bill), which is expected to be presented by the Government to LegCo this year.
 

MinterEllison LLP