16 Oct 2025
WONG KWONG MIU v. PEPPER BLOSSOM LTD AND OTHERS
- Citation
- [2025] HKCFI 4938
- Court
- Court of First Instance
- Case number
- HCCW202/2025
The court, treating the Company as solvent and carrying on an active group business, granted a validation order limited to payments in the ordinary course of business and to reasonable legal expenses incurred in these proceedings, subject to safeguards (monthly statements and inspection rights), but refused validation for payments to implement the proposed share repurchase scheme because such payments are not shown to be ordinary course, involve speculative and significant sums without adequate disclosure, and supporting documents were unduly redacted and inadequately explained.
- Validation order
- Share repurchase
- Unfair prejudice petition
- Winding-up petition
- Ordinary course of business
- Legal costs and funding