20 Apr 2022
RE SHANGHAI HUAXIN GROUP (HONGKONG) LTD (In Liquidation)
- Citation
- [2022] HKCFI 1060
- Court
- Court of First Instance
- Case number
- HCCW126/2018
The court sanctioned the proposed distribution because statutory and equitable principles permit proprietary subrogation and contribution: SHX must indemnify CAL and CHPL for payment of SHX's loan, and CHPL, having paid more than CAL, is entitled to be subrogated to the creditor's security against CAL's properties to equalise their respective burdens; accordingly the Trust Account balance is distributable SHX 0%, CAL 46%, CHPL 54%.