Abandon HK Company - Legal Consequences?

[vds]

Its been now 2 years since I started the process of closing my HK company. After thousands spent in lawyers/accounting/auditing, the process hasnt been concluded. My legal representant in HK, who is taking care of it all, still wants to keep on charging me the annual fee to represent me in various ways.

Our previous company has no debt there, other than the last unpaid invoice of our lawyer. Its been tiresome and expensive, I do understand it takes some time and expensive, but it seems it can take until the end of this year, and potentially another 10k HKD. I`m considering just walking away from it all. Frustrating process and also thinking I`ve been taken for a ride by the law firm.

Currently I have another company in another continent, and dont do any business, or hold any assets in HK.

What is the likely result of just walking away? I do live in Asia but no plans in the near term to either visit or do business in HK

Thank you

[traineeinvestor]

Without commenting on the specifics of your case, if you trawl through the list of prosecutions on the link below, you will see that quite a few were against the directors (or former directors) of companies that defaulted in their compliance obligations.

Note: the list is described as "highlights" which means it is probably not a comprehensive list/

https://www.cr.gov.hk/en/compliance/...on-archive.htm

[tparker]

I've closed a few companies before and it wasn't difficult at all.

Don't know the specifics of your case, but if your situation isn't that complicated i'd start to question the competency or intent of your legal representative...