12 Dec 2023
RE CHINA BEIDAHUANG INDUSTRY GROUP HOLDINGS LTD
- Citation
- [2023] HKCFI 3232
- Court
- Court of First Instance
- Case number
- HCMP397/2023
The court sanctioned the scheme because it served a permissible purpose, the unsecured creditors constituted a single class with the same legal rights, the convening directions and disclosure obligations were complied with and the Explanatory Statement furnished sufficient information, the scheme was approved by the requisite statutory majorities, and an intelligent and honest creditor could reasonably approve the scheme; foreign-law claims either submitted to the scheme by voting or otherwise did not impede the court's jurisdiction. China Vered lacked locus and failed to present evidence at…