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

  • Thursday 20 Jun 2024

  • 4.00 pm – 5.30 pm

  • English

  • This page is made for online session. If you wish to enrol in the physical session, please scroll down for the registration link.

  • 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 online session. If you wish to join in person, please click HERE for the physical session.

Remarks on this Online Session:

  • Registration will be closed on 19 June 2024 at 5.00pm.
  • Once enrolment in this online session is confirmed by the Institute, requests to change to physical session will not be entertained.
  • Online session will be delivered via Zoom facility. The Institute has made every effort to ensure that the quality of the internet connection is sufficient for media streaming. Attendees should ensure that they are in an area of stable internet connection with suitable bandwidth as this can affect user’s experience.

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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