28 Aug 2025
RE TIMES CHINA HOLDINGS LTD
- Citation
- [2025] HKCFI 3937
- Court
- Court of First Instance
- Case number
- HCMP53/2025
The court sanctioned the proposed scheme because it was for a permissible purpose, the meeting was properly convened and achieved the requisite statutory majorities, creditors had sufficient information, class composition was appropriate and the proposal offered materially better recoveries than liquidation; sanction was granted subject to the Company amending the Scheme to (1) redefine Majority Scheme Creditors as holders of 75% in value of Claims and (2) remove the requirement to obtain a Chapter 15 Order as a Restructuring Condition.