31 Jan 2020
NATIONAL ARTS ENTERTAINMENT AND CULTURE GROUP LTD (IN PROVISIONAL LIQUIDATION FOR RESTRUCTURING PURPOSES)
- Citation
- [2020] HKCFI 275
- Court
- Court of First Instance
- Case number
- HCMP1480/2019
The court found that all statutory and procedural criteria for sanctioning the scheme were met, the statutory majorities were obtained, the scheme is a permissible and realistic alternative to likely liquidation which would produce minimal returns, and in the absence of any glaring irrationality or unfairness the majority decision of creditors should be respected; accordingly the scheme was sanctioned.