Well worth the read: BVI court averts comity disaster by refusing to injunct China Properties Group’s liquidators but the cross-border war might not be over
Company and Insolvency
A recent legal analysis discusses a complex cross-border dispute involving China Properties Group (CPG) and its subsidiaries. James Wood, a member of our Chambers, represents the Liquidators of China Properties Group Ltd.
The article delves into a legal dispute concerning CPG, a company incorporated in the Cayman Islands but headquartered in Hong Kong. The liquidators appointed by CPG in Hong Kong sought to replace the directors of its British Virgin Islands (BVI) subsidiaries without seeking recognition in the BVI court. The BVI court ultimately refused to intervene, allowing the liquidators to take control of the subsidiaries and their assets. However, the former managing director of CPG and other parties continue to oppose the liquidators, leading to ongoing litigation in Hong Kong, the BVI, and possibly the Cayman Islands.
View the full article here.
| James Wood
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James is a seasoned litigator with over 25 years’ experience in Hong Kong. He is particularly recognised for his expertise in restructuring and insolvency, commercial fraud and financial disputes, including disputes involving asset tracing and recovery.
Before joining the Bar, James was most recently a Solicitor Advocate and Partner at Lipman Karas, now Karas So LLP in Association with Mishcon de Reya.
View James’ profile.
This article was first published on 28 November 2023.
Disclaimer: This article does not constitute legal advice and seeks to set out the general principles of the law. Detailed advice should therefore be sought from a legal professional relating to the individual merits and facts of a particular case. The photograph which appears in this article is included for decorative purposes only and should not be taken as a depiction of any matter to which the case is related.