18 Jul 2023
RE LEADING HOLDINGS GROUP LTD
- Citation
- [2023] HKCFI 1770
- Court
- Court of First Instance
- Case number
- HCCW343/2022
Petitioner lacks locus to present the winding-up petition because it has no existing contractual relationship or direct enforceable rights against the Company; as an indirect beneficial holder under a global note it is a trust beneficiary with only sub-interests and therefore not a creditor (actual or contingent) under s.179(1) until definitive notes are issued in its name; the global note/indenture and no-action provisions reserve enforcement and standing to the Holder/Trustee, preventing duplicative actions.