All Companies and Commercial Law practitioners must now be aware of the forthcoming amendments and changes to the Companies (Winding-Up and Miscellaneous Provisions) Ordinance (Cap. 32) and subsidiary legislation. These amendments are tentatively scheduled to be enacted by the end of December 2016/early 2017. This new 2016 edition of the “Companies (Winding-Up and Miscellaneous Provisions) Ordinance” (Cap. 32) examines and analyses the: • Key proposals designed to increase the protection of creditors in the course of a company winding-up; • Additional safeguards to reduce the risk of abuse by directors during a voluntary winding-up process; • Increased power of the Courts to set aside questionable transactions; • Streamlining the winding-up process to save time and costs for the administration of such cases; • Increased power of the Liquidator to preserve and protect the assets of a company during the winding-up and liquidation process ; • Increased liability of company directors and members involved in questionable dealings and payouts within the year of a company’s winding-up process;