4 Jun 2021
RE CHINA OIL GANGRAN ENERGY GROUP HOLDINGS LTD
- Citation
- [2021] HKCFI 1592
- Court
- Court of First Instance
- Case number
- HCMP503/2021
The scheme was sanctioned because the statutory requirements were satisfied (proper purpose, correct class composition, adequate information, and requisite majorities), the scheme delivers a materially better return than liquidation, international effectiveness was sufficient for the scheme's purpose, and the post-meeting deletion of the erroneous reference in Clause 69 was permissible because it was clearly erroneous and would not affect a reasonable creditor's decision.