13 Jan 2025
RE CHINA AOYUAN GROUP LTD
- Citation
- [2025] HKCFI 310
- Court
- Court of First Instance
- Case number
- HCMP1696/2023
The Court sanctioned the Holdings and Hero Schemes because the statutory majorities required by s670 were obtained, the creditors called as single classes had sufficiently similar rights such that overlapping creditor positions and collateral benefits did not prove the votes unrepresentative, the Explanatory Statement provided adequate information for creditors to decide, no fundamental 'blot' or lack of utility was demonstrated, and the Schemes offered a materially better going-concern outcome than the likely liquidation alternative.