21 Mar 2025
RE CHINA ZENITH CHEMICAL GROUP LTD (formerly known as XINYANG MAOJIAN GROUP LTD)
- Citation
- [2025] HKCFI 1181
- Court
- Court of First Instance
- Case number
- HCCW243/2023
The Company failed to produce precise, credible and timely evidence that it could repay the petitioner and supporting creditors within a reasonably short period; its fundraising proposals were speculative, late and unsupported; given the Company’s history of delay and the prejudice that any adjournment would cause to multiple creditors, the Court concluded a winding up order was in the creditors' interests and therefore made the usual winding up order.