破產重整最佳實踐與道德
Liquidation and Insolvency Guidance Notes
The Restructuring and Insolvency Faculty Executive Committee has updated and refined the Liquidation and Insolvency Guidance Notes (LIGNs) (previously called Insolvency Guidance Notes). They became effective as from 1 August 2020.
The LIGNs cover some of the more important areas of insolvency practice and provide guidance on best practice to be adopted by insolvency practitioners when carrying out professional work relating to liquidation and insolvency appointments.
The LIGNs were originally introduced in 2005 and represented the first guidance issued by the Institute in this area of specialization and the first coordinated guidelines on insolvency practice issued in Hong Kong.
The LIGNs are contained in Volume I of the Members’ Handbook (as Statements 1.600-1.603) and are as follows:
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LIGN (1) – Scope;
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LIGN (2) – An insolvency practitioner’s investigation into the affairs of an insolvent company;
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LIGN (3) – Preparation of insolvency practitioners’ receipts and payments accounts; and
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LIGN (4) – Disqualification of directors – statutory reports
Professional Ethics in Liquidation and Insolvency
Members of the Institute who work in the insolvency field should also familiarize themselves with Part E, Section 500 of the Code of Ethics for Professional Accountants – Professional Ethics in Liquidation and Insolvency. This sets out requirements relating to conflicts of interest, and other threats to the fundamental principles under the Code, and provides examples of how these requirements apply in specific situations
