21 Oct 2025
RE LIPPO LTD
- Citation
- [2025] HKCFI 5034
- Court
- Court of First Instance
- Case number
- HCMP909/2025
The Court sanctioned the Scheme and confirmed the reduction of capital. The Distribution prima facie constitutes financial assistance because, in commercial substance, it forms part of the composite consideration and reduces the company’s net assets. The Distribution can fall within the dividend exception (s.277(a)(i)) only if it is a dividend lawfully made, which requires the organs empowered to declare dividends to have passed the requisite resolutions in accordance with the Ordinance and the articles; accordingly the Court accepted the Company’s undertaking that the Board would pass those…