31 Aug 2010
ZHANG ZHI RONG v. WELLBO HOLDINGS LTD
- Citation
- ZHANG ZHI RONG v. WELLBO HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCMP1445/2010
The court granted the extensions because the three established criteria were met: the same ultimate owners knew the companies' financial positions so there was no prejudice, the defaults were inadvertent due to an accountant's mistake, and professionals now engaged make future compliance likely; but given the public interest and listing implications the orders were granted subject to an undertaking to notify the Stock Exchange and prospective investors of the orders and reasons.