Mainland, HK reach joint legal agreement

币游国际网

2021-05-22

ApanoramicviewofthefinancialareainHongKong.[Photo/Xinhua]InsolvencycasesinHongKongarelikelytoberecognizedontheChinesemainlandandviceversa,afterauthoritiesfrombothplacessignedadocumentinShenzhen,Guangdongprovince,,signedbetweentheSupremePeoplesCourtandtheHongKongSpecialAdministrativeRegiongovernment,istheninthdocumentonjudicialassistanceincivilandcommercialmattersbetweentheSARandtheChinesemainland,andislikelytofurtherboo,liquidatorsfromHongKongmayapply,bankruptcyadministratorsfromthemainlandmayapplytotheHighCoanghai,ShenzhenandXiamen,smandgraduallyexpandpilotareas,according,vice-presidentoftheSupremePeoplesCourt,saidthatconductingcross-boundaryjudicialassistanceinpilotareasmarksasignificantandinnovatioperationinthecountryandwillbenefitHongKongsfurtherintegrationintothenation,whoistheothersignatoryofthedocument,saidtheestablishmentofacross-borderbankruptcyassistancemechanismwillhelpprotecttheinterestsofdesCourt,especiallyShenzhen,sCourt,thecitysmajorcourtthathandlessuchsituations,hasdealtwithmorethan10,000suchcases,rankingfirstinthenation,sthenationsonlyjurisdictionthatpracticescommonlaw,contributingmoretothedevelopmentoftheGuangdong-HongKong-MacaoGreaterBayAreaandthenation.。