Hong Kong Case Law: Decisions & Judgments

Topic

Debt restructuring

Legal area

Court

26 Jan 2026

SUNG CHUNG KWUN AND OTHERS v. ADDCHANCE HOLDINGS LTD (NOW KNOWN AS “GTI HOLDINGS LTD”) AND OTHERS

Citation

[2026] HKCFI 554
Court

Court of First Instance
Case number

HCA2385/2017

The court found that the plaintiffs' claims were founded on knowingly fabricated agreements and that the conduct amounted to an abuse of process; this extraordinary and highly unreasonable conduct took the case out of the norm and justified varying the costs order nisi so that the defendants (including HCPIL and CAIL) receive costs on an indemnity basis; costs of the defendants' summons are also payable by plaintiffs on an indemnity basis and summarily assessed at HK$78,000.
13 Dec 2023

RE SOFTMEDX HEALTHCARE LTD

Citation

[2024] HKCFI 69
Court

Court of First Instance
Case number

HCMP1126/2023

The court was satisfied that the statutory and judicial criteria for sanctioning a scheme of arrangement under s673 were met: the scheme had been properly approved by the requisite majorities of creditors, complied with applicable law, and was fair in the circumstances; accordingly the court sanctioned the scheme and ordered relief in terms of the draft presented.
10 May 2023

RE JIAYUAN INTERNATIONAL GROUP LTD

Citation

[2023] HKCFI 1254
Court

Court of First Instance
Case number

HCCW317/2022

The court substituted HSBC as petitioner and made a winding up order because the Company was insolvent with undisputed debts, failed to present any concrete restructuring supported by requisite majorities of creditors or useful prospects such that an adjournment would be productive, and therefore creditors’ entitlement to a winding up outweighed the Company’s unsubstantiated restructuring claims.
26 Feb 2021

BANK OF COMMUNICATIONS TRUSTEE LTD v. CHINA ENERGY RESERVE AND CHEMICALS GROUP OVERSEAS CO LTD AND ANOTHER

Citation

[2021] HKCFI 486
Court

Court of First Instance
Case number

HCA146/2020

Admit Lin 4th and 5th as relevant fresh evidence but refuse the renewed stay: the appeal is only arguable not strong; defendants failed to prove enforcement would cause liquidation or irreparable prejudice caused by the judgment itself; prolonged and unresolved restructuring negotiations are speculative and insufficient to justify a stay; prejudice to successful plaintiff in being deprived of the fruits of judgment outweighs defendants' contentions.
4 Sept 2020

HARBOR PROSPER (HK) INVESTMENTS LTD v. ELEGANT PROFIT (HONG KONG) LTD

Citation

[2020] HKCFI 2261
Court

Court of First Instance
Case number

HCCW220/2019

The Company failed to establish a bona fide defence on substantial grounds: there was no clear unequivocal waiver or estoppel by the Petitioner such as would negate the event of default; the PRC Debt Restructuring Agreement had not satisfied its conditions precedent and any alleged foreign-law good faith obligation cannot be applied to fetter the statutory right to petition in Hong Kong. Accordingly the winding-up petition succeeds and a winding-up order is made.
8 Jun 2020

HARBOR PROSPER (HK) INVESTMENTS LTD v. HE JIANLIANG AND ANOTHER

Citation

[2020] HKCFI 1144
Court

Court of First Instance
Case number

HCA1296/2019

Defendants failed to establish any arguable defence or triable issue: the circumstances of signing did not amount to undue influence; the obligation to "procure" registration required securing the registration rather than merely using best endeavours; there was no waiver by the plaintiff; the proposed debt restructuring never became effective and so did not discharge the debt or guarantees; and the reservation of rights in the guarantees preserved defendants' liability. Consequently summary judgment was entered for the plaintiff for the claimed sum with interest.
1 Mar 2019

LO YUK SUI v. FUBON BANK (HONG KONG) LTD formerly known as INTERNATIONAL BANK OF ASIA LTD

Citation

[2019] HKCA 261
Court

Court of Appeal
Case number

CACV47/2017

The Court held the Letter must be construed as referring specifically and narrowly to the 2002 Debt Restructuring Proposal (the 7 October 2002 DRP) and the Bank’s obligation to accept Option 1 was contingent upon the approval and implementation of that specific DRP; because the 2002 DRP never materialized and was subsequently varied with an Additional Option, the Bank did not breach the Letter; no implied DRP equal treatment term was necessary or available; the plaintiff’s cross‑appeal on quantum failed and the trial judgment was set aside.
31 Oct 2016

RE KOKIN LTD

Citation

RE KOKIN LTD
Court

Court of First Instance
Case number

HCCW298/2014

Contributories failed to present a concrete, signable restructuring agreement after prolonged adjournments and the provisional liquidation jurisdiction had been used to delay enforcement; accordingly the court made winding-up orders for the five companies and ordered the provisional liquidators to continue in office.
9 Nov 2015

ZHI CHARLES v. KIM YOUNG JUN AND OTHERS

Citation

ZHI CHARLES v. KIM YOUNG JUN AND OTHERS
Court

Court of First Instance
Case number

HCA2494/2015

The application was dismissed because the plaintiff failed to disclose any discernible cause of action or particulars to justify interlocutory relief; the matters complained of related to company management and regulatory oversight (for directors and the SFC) rather than rights enforceable by individual shareholders in this manner.
11 May 2012

DBS BANK (HONG KONG) LTD v. NG HI YIN HYDI

Citation

DBS BANK (HONG KONG) LTD v. NG HI YIN HYDI
Court

Court of First Instance
Case number

HCB15655/2009

The petitions were dismissed because the petitioner failed to comply with r.46(2) by not taking all reasonable steps to bring the Statutory Demands to the debtors' attention: after failing to effect personal service at Hong Kong addresses the petitioner knew of related PRC guarantors and a 2009 restructuring such that simple inquiries (letters/faxes/phone calls) to PRC premises or to the liquidators could reasonably have been made and might have led to personal service; the petitioner did not establish those steps would have been futile.