6 Nov 2023
RE SUNAC CHINA HOLDINGS LTD
- Citation
- [2023] HKCFI 2850
- Court
- Court of First Instance
- Case number
- HCMP382/2023
The Court sanctioned the scheme because it satisfied statutory requirements: it is a permissible, bona fide debt restructuring; the Scheme Creditors were properly classified as a single class (identical 'rights in' in liquidation and identical 'rights out' under the Scheme); the Convening Order and notice requirements were complied with; the Explanatory Statement and Supplement provided adequate information including a justified liquidation analysis; the statutory majorities under s674(1)(b) were obtained; and there is a sufficient connection with Hong Kong and a realistic prospect of recogni…