9 Jun 2023
RE CHINA BOZZA DEVELOPMENT HOLDINGS LTD
- Citation
- [2023] HKCFI 1620
- Court
- Court of First Instance
- Case number
- HCMP179/2023
The Scheme was sanctioned because it constitutes a permissible genuine debt restructuring, the Scheme Creditors were correctly treated as a single class, the convening and information requirements under the Companies Ordinance were satisfied, the required statutory majorities voted for the Scheme, an intelligent and honest member of the class could reasonably approve it, there is sufficient Hong Kong connection and no legal or practical roadblock preventing effectiveness, and therefore the Court exercised its discretion to sanction the Scheme under s673.