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.