25 Sept 2023
RE NORTH MINING SHARES COMPANY LTD (In liquidation)
- Citation
- [2023] HKCFI 2439
- Court
- Court of First Instance
- Case number
- HCMP832/2023
The court sanctioned the Scheme because it satisfied statutory and precedent requirements: it served a permissible purpose, the unsecured creditors constituted a proper single class with similar rights, the convening and disclosure obligations were complied with, the requisite majorities voted in favour, and a reasonable creditor could approve the Scheme; further the foreign company had sufficient Hong Kong connections and the Scheme would be substantially effective.