31 Aug 2021
RE UP ENERGY DEVELOPMENT GROUP LTD
- Citation
- [2021] HKCFI 2595
- Court
- Court of First Instance
- Case number
- HCCW91/2016
The court refused to make an immediate winding up order in Hong Kong because the Petitioner failed to satisfy the core requirements under s.327: there was no evidence a Hong Kong liquidator would likely be able to obtain control of the BVI intermediaries or the Mainland subsidiaries, and Bermuda—being the place of incorporation and where proceedings and JPLs already exist—remains the appropriate forum; amendments to the petition were allowed and the petition was adjourned pending the outcome of the Company's judicial review of the delisting decision.