18 Oct 2021
RE CHONG HING BANK LTD
- Citation
- [2021] HKCFI 3091
- Court
- Court of First Instance
- Case number
- HCMP968/2021
Rule 2.10 must be construed prohibitorily: the required approval must be obtained at a meeting constituted as a meeting of holders of disinterested shares only; concert parties should not attend or vote for the purpose of Rule 2.10. In this case the court was satisfied that the concert parties gave irrevocable undertakings not to vote and did not vote at the Court Meeting, the statutory and Takeovers Code thresholds were met, the scheme was properly convened and the court therefore sanctioned the scheme and confirmed the reduction of capital under s.229.