Cross-Border Insolvency and Restructuring: Case Study of Samson Paper Holdings Limited and Updates (Hybrid-Physical Attendance)

  • Thursday 20 Jun 2024

  • 4.00 pm – 5.30 pm

  • English

  • Jones Day, 31/F, Edinburgh Tower, The Landmark, 15 Queen's Road Central, Hong Kong (This page is made for physical session. If you wish to join online, please scroll down for the registration link of online session.)

  • HKCGI Member, Graduate, Student, Affiliated Person & Non-Member

Speaker(s)

  • Mr Charles Chau, Partner, Jones Day
  • Mr Samuel Ngo, Partner, Jones Day

Description

Cross-border insolvency between Hong Kong and Mainland China, along with the restructuring of companies facing financial distress, presents a complex and continually evolving legal landscape.

Samson Paper Holdings Limited, a company incorporated in Bermuda and listed on the Main Board of the Stock Exchange of Hong Kong, encountered financial difficulties in its cross-border operations and had to navigate the legal frameworks of multiple jurisdictions to address its financial challenges and undergo restructuring.

Following the successful completion of the restructuring, which encompassed capital reorganization, issuance of new securities, business reorganization, and the implementation of a scheme of arrangement, the company's shares resumed trading on the Main Board of the Stock Exchange of Hong Kong.

During the process, the Hong Kong Court granted an order for the issuance of a letter of request to the Shenzhen Intermediate People’s Court in relation to the handling of the assets of the Hong Kong subsidiary in Shenzhen. This marked the first grant under a cooperation mechanism between the Hong Kong and Mainland Chinese courts for the mutual recognition of insolvency processes and office holders.

We are delighted that speakers from Jones Day, advisor of the aforesaid restructuring exercise, will provide an overview of the complex and evolving area of cross-border insolvency, as well as the challenges and legal frameworks involved in restructuring for companies in financial distress with cross-border operations, by going through the background, process and challenges. The following key topics will be covered: 

(A) Introduction

(B) Case Study of Re Samson Paper Holdings Limited: Background, and the ground-breaking decision

(C) Major Restructuring Steps

(D) Takeovers Code and Listing Rule Implications

This is the physical session and physical attendance is required for CPD counting purpose. If you wish to join online, please click HERE for the online session.

Remarks on this Physical Session:

  • Physical seats are limited and shall be taken on first-come first served basis. Registration will be closed on 18 June 2024 at 5.00pm.
  • Once enrolment in the physical session is confirmed by the Institute, requests to change to online session will not be entertained.
  • Physical attendance is subject to the weather condition at the time of the seminar. The Institute reserves the right to convert enrolment in the physical session into online session.

Level: Intermediate

Bios of Speakers and Chair:
Mr Charles Chau
Mr Samuel Ngo

Seat guarantee will only be given to HKCGI Fellows and/or Practitioner’s Endorsement (PE) holders if registered 10 clear working days with payment prior to the date of the seminar.

Got Questions?

Visit our FAQs or contact the Professional Development Section: 2881 6177 or email: cpd@hkcgi.org.hk

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