7 Mar 2025
RE POWERLONG REAL ESTATE HOLDINGS LTD
- Citation
- [2025] HKCFI 970
- Court
- Court of First Instance
- Case number
- HCMP458/2024
The proposed 3‑month extension was not permitted by clause 27.2 because it would have a material adverse effect on Scheme Creditors (it extends the period creditors are bound and delays receipt of consideration without compensation); the modification lacked requisite creditor support (Consent Solicitation showed substantial opposition well below s.674(1) threshold), was not necessitated by unforeseen circumstances, and the Company failed to demonstrate alternative funding or AHG consent required under the RSA, therefore the modification application must be dismissed.