9 Aug 2023
RE CENTURY SUNSHINE GROUP HOLDINGS LTD AND OTHERS
- Citation
- [2023] HKCFI 2041
- Court
- Court of First Instance
- Case number
- HCMP2137/2022
The court sanctioned the scheme because it constituted a bona fide Group restructuring for a permissible purpose, the Scheme Creditors were properly classified as a single class of general unsecured creditors, convening and disclosure requirements were met, statutory majorities voted in favour, the discretionary 'intelligent and honest man' test was satisfied, and there was sufficient connection with Hong Kong together with pragmatic provision for parallel Singapore proceedings for Singapore-law instruments.