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Insolvency law: a comparative analysis of the preference tests in the Hong Kong Special Administrative Region (HKSAR) and Australia
Author(s) -
Quo Shirley
Publication year - 2007
Publication title -
international insolvency review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.125
H-Index - 7
eISSN - 1099-1107
pISSN - 1180-0518
DOI - 10.1002/iir.150
Subject(s) - insolvency , preference , legislation , test (biology) , debtor , law , relation (database) , political science , economics , creditor , finance , debt , computer science , paleontology , database , biology , microeconomics
This paper examines the unfair preference tests under corporate insolvency legislation in the Hong Kong Special Administrative Region (HKSAR) and Australia and undertakes a comparison of the law as it exists in relation to the tests in these jurisdictions. It suggests that the objective effects‐based test used in the Australian provisions may be more effective in terms of challenging unfair preferences than the subjective ‘desire’ test based on the actual or presumed intention of the debtor company used in HKSAR. Copyright © 2007 John Wiley & Sons, Ltd.