Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Companies ordinance s673

Legal area

Court

15 Dec 2020

RE RE HSIN CHONG ASTER BUILDING SERVICES LTD

Citation

[2020] HKCFI 3108
Court

Court of First Instance
Case number

HCMP1069/2020

The court sanctioned the scheme because the statutory and doctrinal criteria were satisfied: the scheme served a permissible purpose, the unsecured creditors formed a sufficiently similar class, the meeting was properly convened and creditors were provided with adequate information, the statutory majorities were obtained (79% by number and 87% by value), and a reasonable intelligent and honest creditor could have voted in favour.
14 Feb 2017

RE LEHMAN BROTHERS ASIA LTD (In Liquidation)

Citation

RE LEHMAN BROTHERS ASIA LTD (In Liquidation)
Court

Court of First Instance
Case number

HCMP2265/2016

The court sanctioned each scheme because the statutory requirements were satisfied (proper notice, adequate explanatory statements, and statutory majorities voted in favour), a single class was justified by the creditors' common interest in avoiding expensive and uncertain litigation, and the scheme terms (including specified PLI methodology and a 50% discount on non-provable claims) were ones that an intelligent and honest creditor could reasonably approve.