Crystal Au-Yeung

Partner

Hong Kong | T +852 2842 9595 | M +852 9165 3400

Home > People > Crystal Au-Yeung

Crystal Au-Yeung is a Partner in the Hong Kong Disputes and Restructuring practice at Conyers.

Crystal is fluent in Cantonese Mandarin and English, and has extensive experience in cross-border commercial disputes, insolvency, and restructuring. She regularly acts for financial institutions, listed companies, investment funds, directors, high net worth individuals, and insolvency practitioners (including liquidators, receivers, and trustees in bankruptcy).

Her practice includes contentious matters involving shareholders in private business and investment structures, directors of listed companies, and private wealth beneficiaries. She is also highly experienced in cross-broader debt enforcement, restructuring, and insolvency proceedings.

Crystal is well regarded by clients and peers in Hong Kong and the PRC for her ability to understand commercial objectives and deliver effective, strategic dispute resolution.

She is recognised in the 2025 edition of the Private Client Global Elite Directory and currently serves as a Branch Committee Member of STEP (The Society of Trust and Estate Practitioners) Hong Kong.

Jurisdictions

Experience

Acted as Cayman counsel for HyalRoute Communication Group Limited, a regional telecommunications infrastructure operator, in successfully opposing a USD 26 million winding-up petition presented by PRC state-owned insurer China Export & Credit Insurance Corporation based on alleged subrogated rights. The Grand Court dismissed the petition, finding bona fide disputes on substantial grounds as to the characterisation of the insurance under PRC law and the petitioner’s entitlement to exercise rights of subrogation against a guarantor (China Export & Credit Insurance Corp v Hyalroute Communication Group Ltd (No. 2) [2026] CIGC (FSD) 37)
Acting for China National Building Material, one of the world’s largest building material manufacturers, in the high-profile shareholder dispute over control of China Shanshui Cement Group Limited — one of the most contested corporate battles in the China cement industry. The case involves a just and equitable winding-up petition arising from a hostile takeover battle among major shareholders including Tianrui Group, with allegations of conspiracy, breach of fiduciary duty, and improper allotment of shares and convertible bonds designed to dilute rival shareholders’ stakes, and has been the subject of extensive litigation across multiple courts
Acted for Peakwave Investment Management Limited in the winding up of a Cayman exempted limited partnership holding interests in profitable electric battery businesses in Mainland China, obtaining the appointment of joint provisional liquidators on just and equitable grounds while the underlying dispute was stayed in favour of HKIAC arbitration. The Grand Court’s decisions in Peakwave v Energy Evolution [2026] CIGC (FSD) 7 and 22 established important Cayman authority on the court’s power to appoint provisional liquidators notwithstanding a stay for arbitration, and confirmed that directors’ powers are not automatically displaced
Acted for SequoiaDB Software Ltd in successfully opposing a winding-up petition brought by an investor seeking share redemption following the non-occurrence of an IPO. The Grand Court dismissed the petition, finding the debt was bona fide disputed on substantial grounds (In the Matter of SequoiaDB Software Ltd [2025] CIGC (FSD) 120)
Acted for a group of major limited partners in a Cayman exempted limited partnership where a GP-led voluntary liquidation had stalled for almost three years with no distributions and limited transparency. Successfully obtained court supervision of the winding-up, displacing the GP and securing the appointment of independent official liquidators with full statutory powers
Acted for Biostar Pharma, Inc., a Hong Kong-listed company, in obtaining the appointment of receivers over a Cayman segregated portfolio after the fund failed to honour a US$5 million redemption request, with total exposure of approximately US$10 million. The Court applied the Oakwise flexible balance sheet test to determine insolvency (Biostar v LFM Oversea Investment Fund SPC [2025] CIGC (FSD) 118)