A liquidator is usually involved at the end of a company’s life cycle. The role of a liquidator includes investigating the reasons why a company has failed; collecting, protecting and realising the company’s assets; and distributing the proceeds of realisation in accordance with the statutory rules of distribution. The liquidator regime in Hong Kong thus places an emphasis on ensuring that the winding-up of financially distressed businesses is conducted in a fair and orderly manner and under the control and oversight of professionals conversant with the winding-up process and rules.

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