1.0Office Hong Konghttps://www.amsadvocaten.comWang Chanwaw/blog/author/hidde/rich600338<blockquote class="wp-embedded-content"><a href="waw/blog/insolvency-law/directors-and-officers-liability-for-a-creditors-claim-in-case-of-unjust-expedited-liquidation/">Directors’ and officers’ liability for a creditor’s claim in case of unjust expedited liquidation</a></blockquote> <script type='text/javascript'> <!--//--><![CDATA[//><!-- /*! This file is auto-generated */ !function(d,l){"use strict";var e=!1,o=!1;if(l.querySelector)if(d.addEventListener)e=!0;if(d.wp=d.wp||{},!d.wp.receiveEmbedMessage)if(d.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!/[^a-zA-Z0-9]/.test(t.secret)){var r,a,i,s,n,o=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),c=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]');for(r=0;r<c.length;r++)c[r].style.display="none";for(r=0;r<o.length;r++)if(a=o[r],e.source===a.contentWindow){if(a.removeAttribute("style"),"height"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;a.height=i}if("link"===t.message)if(s=l.createElement("a"),n=l.createElement("a"),s.href=a.getAttribute("src"),n.href=t.value,n.host===s.host)if(l.activeElement===a)d.top.location.href=t.value}}},e)d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",t,!1),d.addEventListener("load",t,!1);function t(){if(!o){o=!0;var e,t,r,a,i=-1!==navigator.appVersion.indexOf("MSIE 10"),s=!!navigator.userAgent.match(/Trident.*rv:11\./),n=l.querySelectorAll("iframe.wp-embedded-content");for(t=0;t<n.length;t++){if(!(r=n[t]).getAttribute("data-secret"))a=Math.random().toString(36).substr(2,10),r.src+="#?secret="+a,r.setAttribute("data-secret",a);if(i||s)(e=r.cloneNode(!0)).removeAttribute("security"),r.parentNode.replaceChild(e,r)}}}}(window,document); //--><!]]> </script><iframe sandbox="allow-scripts" security="restricted" src="waw/blog/insolvency-law/directors-and-officers-liability-for-a-creditors-claim-in-case-of-unjust-expedited-liquidation/embed/" width="600" height="338" title="“Directors’ and officers’ liability for a creditor’s claim in case of unjust expedited liquidation” — Office Hong Kong" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe>waw/app/uploads/2019/05/AMS-Advocaten-ÔÇö-sfeerbeelden-7-1.jpg15001002If there are no more assets (revenue) present in the event of the dissolution of a company, this will immediately cease to exist. It is usual for a dissolved company to remain in existence during liquidation. But in the event of expedited liquidation, as this procedure is referred to, no liquidation will take place. This can sometimes result in frustration on the part of the creditors for example, when there is a discussion regarding the question of whether or not assets are present. In the event of expedited liquidation a director can even be personally liable towards the creditors of the dissolved company. Insolvency lawyer Wang Chan deals with this further on the basis of recent case law.