21 May 2020
RE THE JOINT AND SEVERAL PROVISIONAL LIQUIDATORS OF CHINA OIL GANGRAN ENERGY GROUP HOLDINGS LIMITED (IN PROVISIONAL LIQUIDATION IN THE CAYMAN ISLANDS)
- Citation
- [2020] HKCFI 825
- Court
- Court of First Instance
- Case number
- HCMP367/2020
The Court exercised its inherent and common-law jurisdiction to recognise the Cayman soft-touch provisional liquidation and the appointment of the joint provisional liquidators and to grant the specific restructuring and ancillary powers sought because (1) established Hong Kong and foreign authorities support recognition of comparable foreign insolvency proceedings and office-holders; (2) the proposed powers were confined to restructuring and protecting assets and tracked the letter of request; (3) there was no objection and no public policy reason to refuse assistance; and (4) the applicatio…