19 Nov 2020
RE CHINA HUIYUAN JUICE GROUP LTD
- Citation
- [2020] HKCFI 2940
- Court
- Court of First Instance
- Case number
- HCCW298/2019
Petitioner failed to demonstrate a real prospect of tangible benefit from a Hong Kong winding-up (the second core requirement); a Hong Kong appointed liquidator would be unlikely to obtain recognition or effective control of intermediate offshore or Mainland subsidiaries and therefore could not secure meaningful recoveries for the petitioner; accordingly a winding-up order would not be justified and the petition is adjourned to allow a limited period for the Company to advance restructuring with directions and timetable.