26 Aug 2024
RE ACOMMERCE GROUP LTD
- Citation
- [2024] HKCFI 2216
- Court
- Court of First Instance
- Case number
- HCMP772/2024
The petition was dismissed because the Court concluded the Scheme Meeting was not properly constituted as a single class: material uncertainty and non‑disclosure about entitlement and quantum of contractual default interest meant GPF's legal rights were materially different from other CN Holders and from Inspire (which had a distinct extension fee), and significant inconsistencies/misstatements in the Scheme Document deprived creditors of sufficient information to vote intelligently; accordingly the Court would not exercise its discretion to sanction the Scheme.