5 Aug 2020
SHANDONG CHENMING PAPER HOLDINGS LTD v. ARJOWIGGINS HKK 2 LTD
- Citation
- [2020] HKCA 670
- Court
- Court of Appeal
- Case number
- CACV158/2017
The second core requirement (a reasonable possibility that the petitioner will benefit from a winding-up order) is an essential condition that must be satisfied; the leverage created by the prospect or making of a winding-up order (pressure leading to payment or enabling liquidator steps that may recover assets) can constitute a sufficient real possibility of benefit; on the facts the defendant showed a sufficient prospect of benefit and the Court of Appeal dismissed the plaintiff's appeal and upheld exercise of jurisdiction under s.327.