1 Feb 2021
RE FOUNDER INFORMATION (HONG KONG) LTD
- Citation
- [2021] HKCFI 311
- Court
- Court of First Instance
- Case number
- HCCW350/2020
The Company failed to satisfy the evidential threshold to justify an adjournment: its evidence was insufficient on feasibility, independent creditor support and protection of the material onshore claim. Given the petitioner's proved debt, insolvency and credible risk of dissipation of the RMB5.25 billion claim in the Mainland restructuring, the court exercised its discretion to refuse an adjournment and made the normal winding-up order while declining to make a regulating order at this stage; appointment of specified liquidators was made conditional on the Official Receiver applying under s19…