17 May 2016
RE WINSWAY ENTERPRISES HOLDINGS LTD
- Citation
- RE WINSWAY ENTERPRISES HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCMP453/2016
The court sanctioned the Scheme because the statutory procedures were complied with, the Scheme Creditors formed a single class with identical legal rights, the consent fee did not necessitate separate classes, Hong Kong had sufficient connection to justify jurisdiction (listing, registered office, bank accounts, shareholders, auditors), the explanatory statement was adequate, and it was likely that Chapter 15 recognition would secure the Scheme’s effect in the United States, thus the Scheme was one an intelligent and honest creditor could reasonably approve.