28 Apr 2025
RE SHIMAO GROUP HOLDINGS LTD
- Citation
- [2025] HKCFI 1751
- Court
- Court of First Instance
- Case number
- HCMP1946/2024
The court sanctioned the Scheme because it serves a permissible restructuring purpose, adequate disclosure was provided to enable informed creditor voting, the statutory majorities were achieved, the differences in pre‑scheme rights did not defeat treating the creditors as a single class in the circumstances (and the result would have passed even if two classes were used), third‑party releases and fees were justified on the evidence and limited by carve‑outs, and there was a sufficient Hong Kong connection with reasonable prospect of satisfying remaining conditions; accordingly an intelligent…