Fiduciary duties of directors of companies are designed to ensure that directors act in the best interests of the company, but do they owe duties to creditors?
By approaching the process with diligence and seeking appropriate professional assistance at the outset, individuals can navigate the challenges and complexities of divorce while safeguarding their business interests and family well-being
Industrial and commercial policyholders increasingly complain that premiums are impacting their bottom lines. At the same time, the protection gap remains significant and arguably will only widen with climate change. Unsurprisingly, interest in captives and in ILS is also trending higher.
Hong Kong has long been recognized as a global destination for establishing family offices as it offers a wide range of benefits for HNWI and families
“In the Chief Executive’s 2023 Policy Address, the Hong Kong Government intends to facilitate no less than 200 family offices to set up operations or expand their business in Hong Kong from 2022 to 2025.” – The Chief Executive’s 2023 Policy Address (25 October 2023)
Practical considerations for removal of company directors: shareholders may remove a director without cause in accordance with the Companies Ordinance, Cap. 622
“Hong Kong will take “another leap forward” in the next five years, Chief Executive John Lee has promised while expressing confidence the city remains in an “enviable position” despite difficulties encountered in recent years” – South China Morning Post, 27 July 2022
Hong Kong Company laws might be soon changing to cater for virtual shareholders’ meetings – this is welcome news amidst the ongoing COVID pandemic, offering flexibility to corporate governance in Hong Kong
Phase 2 of the new inspection regime of the register of the Companies Registry come into effect on 24 October 2022, allowing Hong Kong companies to limit disclosure to the general public certain personal information of their directors and secretaries
Due diligence remains an essential exercise during or prior to any potential transaction. Not only does it provide a clearer picture of how a target company operates, but it also determines the commerciality of the potential transaction, as well as providing points for negotiation between the parties. There are a wide range of areas to be considered by parties – this article highlights the more common and significant areas to be considered by potential purchasers and sellers in due diligence.