Hong Kong Insolvency and Restructuring Law and Policy in Times of COVID-19 and Beyond 

With the onset of the COVID-19 pandemic, the number of insolvency filings is expected to rise significantly. While Hong Kong’s insolvency regime has served it well in the past crises, there is no assurance that it would continue to work in this crisis. This project will evaluate the effectiveness of the current insolvency and restructuring laws in rescuing otherwise economically viable businesses. Using law, political science, accounting and finance methods, we analyse the data to show the limitations of the existing framework, evaluate the costs of alternatives, and how responses to COVID-19 will shape insolvency and restructuring laws in Hong Kong in the longer run. Focusing on small and medium size enterprises (SMEs), we assess whether Hong Kong should adopt models of legislation based on a universal standstill on performance of commercial leases. This project promises high impact for the academic and policy communities in Hong Kong and the region.

See "Three Themes" for brief descriptions on comprised themes for the project.