Transfer of Businesses (Protection of Creditors) Ordinance

(1)
The transferee shall be entitled to be
indemnified—
(a)
by the transferor, except in the case of a transfer by way of sale under or pursuant to a charge; or
(b)
by the charge-holder, if the transfer is by way of sale under or pursuant to a charge,
for all amounts for which the transferee is made liable under this Ordinance and for which he would not otherwise be liable.
(2)
The amount of such an indemnity may be recovered by civil proceedings as a debt or liquidated demand.