Debt Recovery For Creditors And The Law Of Insolvency In Hong Kong

In connection with its global assignment of recovery and issue ratings, Standard&Poor's Ratings Services has assessed Hong Kong's insolvency regime as a Group A1 jurisdiction, based on its relative degree of "creditor-friendliness" as defined in Standard&Poor's report titled "Jurisdiction-Specific Adjustments To Recovery And Issue Ratings," published July 5, 2007, and available on RatingsDirect at www.ratingsdirect.com. Hong Kong is one of the friendliest jurisdictions for secured creditors in Asia and ranks among the most hospitable jurisdictions for creditors globally. Similar to Singapore, Hong Kong's insolvency regime incorporates many creditor-friendly elements common to the U.K. insolvency regime, including the ability to take security over all, or substantially all, of a debtor's assets through a floating charge and, for

...(Editor's Note: We have updated our assessment of the insolvency regime detailed in this commentary following the publication of the criteria "Methodology: Jurisdiction Ranking Assessment," published Jan. 20, 2016. We list our latest jurisdiction ranking assessments in the commentary article "Jurisdiction Ranking Assessments Of National Insolvency Regimes," which is updated from time to time.) In connection with its global assignment of recovery and issue ratings, Standard & Poor's Ratings Services has assessed Hong Kong's insolvency regime as a Group A1 jurisdiction, based on its relative degree of "creditor-friendliness" as defined in Standard & Poor's report titled "Jurisdiction-Specific Adjustments To Recovery And Issue Ratings," published July 5, 2007, and available on RatingsDirect at www.ratingsdirect.com....

Commentary