> HK is sort of what NY is to the US. It is a peripheral region with some minor degree of autonomy but because it just so happens to house the Chinese version of Wall Street this means it’s judiciary is a little bit special when it comes to dealing with insolvency and other corporate issues.
This means that it very likely means liquidation in China as well.
I have looked at the comment and this person is clueless. What matters here is jurisdiction, and Hong Kong is certainly a different jurisdiction. Political independence of Hong Kong is immaterial.
If you want some actual information I recommend "Cross-Border Insolvency between Chinese Mainland and Hong Kong: The Past, the Present, and the Future" (2022). https://ssrn.com/abstract=4100844
Technically, I think replacing NY with Delaware may be a better comparison - specifically with respect to the Delaware Court of Chancery in which most large US companies litigate business issues.
Not really, if a company goes bankrupt in the City it is bankrupt. There’s no distinction, where’s as here most people believe the Chinese entity will continue to operate as a separate company.
> HK is sort of what NY is to the US. It is a peripheral region with some minor degree of autonomy but because it just so happens to house the Chinese version of Wall Street this means it’s judiciary is a little bit special when it comes to dealing with insolvency and other corporate issues.
This means that it very likely means liquidation in China as well.