19 Apr 2005
The court found that the statutory jurisdictional requirements were satisfied and that the scheme met the objective test of being one which an intelligent and honest member of the class might reasonably approve; accordingly the petition to sanction the scheme under section 166 was granted.
4 May 2001
The Committee held the applicants were not entitled to appeal as of right because their individual debts did not meet the HK$1,000,000 threshold under s.22(1)(a); however, leave to appeal was granted under the discretionary limb s.22(1)(b) because the issues concerning the constitution of creditor classes for schemes of arrangement and principles of court sanction raise debatable questions of general and public importance worthy of determination by the Court of Final Appeal.
25 May 1999
The court sanctioned the Creditors Scheme because the class was properly constituted, the meeting was duly convened, creditors were provided sufficient information to make an informed judgment and the requisite majorities voted in favour; no factors existed to displace the meeting's decision under the established test from Buckley and the cited authorities.