17 Sept 2021
DONG CHENGXUAN AND OTHERS v. CHINA SAITE GROUP CO LTD
- Citation
- [2021] HKCFI 2889
- Court
- Court of First Instance
- Case number
- HCCW346/2020
The petition was adjourned because there was sufficient certainty that the proposed restructuring would proceed (funds of US$4.9 million secured and HK$160 million committed under note purchase agreements) and, on the available evidence, scheme creditors would be better off if the scheme were sanctioned than if an immediate winding up order were made; accordingly an adjournment and a validation order were appropriate.