4 Nov 2024
RE YUZHOU GROUP HOLDINGS COMPANY LTD
- Citation
- [2024] HKCFI 3098
- Court
- Court of First Instance
- Case number
- HCMP1068/2024
The court sanctioned the Scheme because it was for the permissible purpose of restructuring an insolvent group, the Scheme meetings were properly convened and approved by the requisite statutory majorities, the two-class division was appropriate given materially different rights, the Explanatory Statement and Supplement provided sufficient information, the third‑party releases were limited to those necessary for implementation with carve-outs for fraud and wilful misconduct, and outstanding Restructuring Conditions were likely to be satisfied within a reasonable period; Hong Kong had sufficie…