Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Court directions to liquidators

Legal area

Court

8 Jun 2021

RE FOUNDER INFORMATION (HONG KONG) LTD

Citation

[2021] HKCFI 1749
Court

Court of First Instance
Case number

HCCW350/2020

The court directed that, on the evidence before it, the liquidators' proposed sale by private tender of the Company's 3,850,134,407 shares in PKU Resources would be a proper exercise of their powers under section 199(3) and falls within the range of decisions a reasonable liquidator could properly take; accordingly the court gave a direction under section 200(3) and ordered costs to be paid from the Company's assets.
24 Oct 2006

RE C.A. PACIFIC FINANCE LTD (in Liquidation)

Citation

RE C.A. PACIFIC FINANCE LTD (in Liquidation)
Court

Court of First Instance
Case number

HCCW36/1998

The court granted directions approving the liquidators' proposals to convert corporate actions into cash (with limited exceptions) and to allocate and distribute proceeds following established guidelines — cash clients to be preferred over margin clients where a shortfall exists and cash clients to share pari passu — because the pledged shares were not the company's beneficial property, conversion minimizes costs and the Official Receiver and committees raised no objection.