26 Sept 2024
RE HELENBERGH CHINA HOLDINGS LTD
- Citation
- [2024] HKCFI 2628
- Court
- Court of First Instance
- Case number
- HCMP353/2024
The court sanctioned the Scheme because it pursued a permissible restructuring purpose, the Scheme Creditors were properly classified into two classes given differing instruments and maturities, the convening directions were complied with, disclosures (including explicit risk warnings, the Liquidation Analysis and supplemental correspondence) were sufficient for sophisticated institutional creditors to form an informed view, the releases were narrowly drafted and necessary to prevent ricochet claims, there was a sufficient Hong Kong connection and the requisite statutory majorities approved t…