17 Aug 2017
FUNG CHUEN v. SANDMARTIN INTERNATIONAL HOLDINGS LTD AND OTHERS
- Citation
- FUNG CHUEN v. SANDMARTIN INTERNATIONAL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW207/2017
On the evidence the company is solvent (including the HK$220 million raised by an open offer and approximately HK$82 million in liquid funds used to improve the balance sheet), the petition's allegations about the open offer cannot be resolved at this interlocutory stage, and therefore the validation order should be granted to allow the company to continue trading pending the petition with terms and costs to be determined.