26 Apr 2022
DONG CHENGXUAN AND OTHERS v. CHINA SAITE GROUP CO LTD
- Citation
- [2022] HKCFI 1128
- Court
- Court of First Instance
- Case number
- HCCW346/2020
The court sanctioned the scheme because the statutory and judicial criteria for sanction were satisfied, the majority of claims were governed by Hong Kong law with no Mainland objections making Mainland enforcement unlikely, and the proposed post-meeting modifications increased creditor recovery without prejudicing any creditor; the court also varied the validation order to permit transfer of funds to the Scheme Administrator for distribution.