Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Gem rule 17.26

Legal area

Court

19 Aug 2021

CHINA TRENDS HOLDINGS v. THE STOCK EXCHANGE OF HONG KONG

Citation

[2021] HKCFI 2427
Court

Court of First Instance
Case number

HCAL1158/2021

The application for leave and the interim injunction were dismissed because the proposed grounds were unarguable or not reasonably arguable with a realistic prospect of success, the Review Committee had expressly considered the contested factors and its qualitative assessment was entitled to deference, and the balance of convenience and public interest militated against granting an injunction that would delay the delisting regime.
8 Dec 2020

CHINA TRENDS HOLDINGS LTD v. THE STOCK EXCHANGE OF HONG KONG LTD

Citation

[2020] HKCFI 3045
Court

Court of First Instance
Case number

HCAL818/2020

The GEM Listing (Review) Committee lawfully applied Rule 17.26 as a qualitative, company-specific test by asking whether the company's level of operations or assets were sufficient to warrant continued listing; it reasonably concluded the company failed both limbs, took relevant considerations into account, provided adequate reasons and did not act irrationally or breach procedural fairness; no legitimate expectation arose; the judicial review is dismissed on the merits.