18 Jul 2019
CYPRESS HOUSE CAPITAL LTD v. HUA HAN HEALTH INDUSTRY HOLDINGS LTD
- Citation
- [2019] HKCFI 1826
- Court
- Court of First Instance
- Case number
- HCCW110/2019
Haw Par was permitted to be substituted as petitioner because it met the statutory contributory requirements and showed a legitimate need for investigation; the threshold for likely winding up was satisfied given unresolved serious allegations, SFC involvement and obstructed/slow investigations, and in the exercise of discretion provisional liquidators were appointed because they were likely to be able to preserve assets and conduct a more effective independent investigation than existing measures (FTI/GT), balancing commercial realities and urgency.