Hong Kong Case Law: Decisions & Judgments

Topic

Jurisdiction to sanction

Legal area

Court

10 Jun 2016

RE KAISA GROUP HOLDINGS LTD

Citation

RE KAISA GROUP HOLDINGS LTD
Court

Court of First Instance
Case number

HCMP708/2016

The Scheme was sanctioned because the statutory procedures were complied with, the creditors affected formed a single properly constituted and fairly represented class, there was a sufficient connection with Hong Kong to justify the Court's jurisdiction, and the explanatory statement provided sufficient information for creditors to make an informed decision, with the statutory majorities overwhelmingly satisfied.
7 Dec 2000

Re UDL Steel Fabricators & Shipbuilders Co. Ltd.

Citation

Re UDL Steel Fabricators & Shipbuilders Co. Ltd.
Court

Court of Appeal
Case number

CACV258/2000

The Court of Appeal held that the judge had jurisdiction and exercised her discretion properly: the creditors in question did not possess legal rights so dissimilar as to require separate class meetings; preferential creditors were not a separate class for voting purposes because their legal rights under the scheme (and in liquidation) were essentially the same on the points in issue; valuing Nishimatsu's contingent claim at nil for voting was a bona fide and equitable approach when the claim was unproved and subject to arbitration; accordingly the statutory requirements of s.166 were satisfi…
18 Apr 2000

Re Full Keen Investment Ltd.

Citation

Re Full Keen Investment Ltd.
Court

Court of First Instance
Case number

HCMP429/2000

Applying the rights test, the court found no material dissimilarity of legal rights among the creditor classes such as would make consultation impossible or produce confiscation or injustice; disputed claims valued at HK$0 after specialist assessment could be excluded from voting; the procedural irregularities were technical and properly waived; independent and objective creditors provided substantial support so the court would exercise its discretion to sanction the 25 schemes (subject to stock exchange approval).

Hong Kong Case Law

RE KAISA GROUP HOLDINGS LTD

Re UDL Steel Fabricators & Shipbuilders Co. Ltd.

Re Full Keen Investment Ltd.