Confirmation of Candidature - The Restructuring of Red-Chip Companies: Private International Law Issues

This project considers the optimal solution of a range of common law private international law (PIL) issues arising from the restructuring of red-chip corporate groups or entities using schemes of arrangement. A red-chip entity refers to a company incorporated in one of the British offshore territories (such as Cayman Islands and Bermuda) and listed in Hong Kong or other jurisdictions outside Mainland China, while the business it owns is situated in the Mainland. The scheme of arrangement is a collective decision-making procedure provided in the companies legislation to enable a company to restructure its relationship with its shareholders and creditors. The aim of a scheme is to obtain a binding agreement among rights-holders, through the operation of the majority rule, on the reorganisation of the rights of the claimholders. The scheme of arrangement is the only formal procedure available for corporation reorganisation in Hong Kong. The significance of the common law PIL principles in the context under consideration lies in the lack of statutory norms on cross-border insolvency in the relevant jurisdictions. In analysing the research questions that I have identified, I will be guided by the principle of `modified universalism'. The research methodologies that will be applied in my legal analysis include the doctrinal legal research methodology, the comparative methodology, and the policy research method.

For more information, please email the Graduate Research School or phone 0746 311088.