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Set-Off Law and Practice - An International Handbook, 3rd Edition edited by Johnston, William; Werlen, Thomas; Link, Frederick (22nd February 2018)

16 Hong Kong

Richard McKeown

From: Set-Off Law and Practice: An International Handbook (3rd Edition)

Edited By: William Johnston, Thomas Werlen, Frederick Link

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 26 August 2019

Subject(s):
Contractual set-off — Insolvency set-off — Judicial set-off

This chapter provides an overview of the law of set-off in Hong Kong. Set-off in Hong Kong is classified into legal, contractual, equitable and bankruptcy set-off. The first three types of set-off are subject to common law principles, whereas set-off on bankruptcy is regulated by section 35 of the Bankruptcy Ordinance. The relevant principles applied to set-off are generally those of English common law. The chapter begins with a discussion of set-off outside insolvency, focusing on equitable set-off, legal set-off, and contractual set-off. It then considers set-off against insolvent parties, taking into account statutory set-off, before concluding with an analysis of cross-jurisdictional issues arising from the right of set-off.

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