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From Peregrine to Next Digital: Hong Kong invokes rarely-used powers in company law



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Hong Kong’s government this week appointed Clement Chan Kam-wing of accounting firm BDO as a special inspector to look into the financial affairs of Next Digital, the publisher of the now-defunct Apple Daily newspaper.It marks the first time in 22 years the government has invoked a clause in the city’s Companies Ordinance that empowers the financial secretary to order an investigation into a public company for misconducts and intent to cheat creditors.Several such appointments have been made…

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