{"id":31008,"date":"2019-11-12T21:40:12","date_gmt":"2019-11-12T13:40:12","guid":{"rendered":"https:\/\/zegal.com\/?p=31008"},"modified":"2022-10-31T14:40:57","modified_gmt":"2022-10-31T06:40:57","slug":"can-i-sell-my-business-if-its-insolvent","status":"publish","type":"post","link":"https:\/\/zegal.com\/en-gb\/blog\/post\/can-i-sell-my-business-if-its-insolvent\/","title":{"rendered":"Can I Sell My Business If It\u2019s Insolvent?"},"content":{"rendered":"
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Most likely, you’re unfortunately here<\/span> because your business has hit insolvency and you are thinking of selling<\/span>. Or you are the forward-thinking type of person that plans for the worst. Either way, t<\/span>he short answer is:<\/span><\/p>\n

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Yes, you can sell your insolvent company. <\/span><\/h5>\n<\/blockquote>\n

If you’re in Hong Kong, it is likely that your business may be suffering owing to the protests, <\/span>threat from <\/span>the <\/span>trade war and economic downturn. There is a plausible expectation that many businesses will feel the blow and go into insolvency. Dealing with selling a failing company is tricky and comes with a lot of pressure from creditors and suppliers<\/span>, no matter the cause. <\/span><\/p>\n

We’re aiming to ease this difficult process by helping you fully understand what you’re in for.<\/span><\/p>\n

How to test if my business is insolvent<\/span><\/h4>\n

You may be facing financial problems, but how can you tell whether a business is officially labelled as \u2018in<\/span>solvent<\/span>\u2019?<\/span> In Hong Kong, while there is no set-in-stone criteria for \u2018insolvency\u2019, it generally refers to when a company is no longer able to pay back its debts. <\/span><\/p>\n

This can occur in the following situations:<\/span><\/h5>\n