28 Oct 2025
VPOWER GROUP INTERNATIONAL HOLDINGS LTD v. CRRC HONG KONG CAPITAL MANAGEMENT CO. LTD
- Citation
- [2025] HKCA 952
- Court
- Court of Appeal
- Case number
- CAMP118/2025
The court held there was no reasonable prospect of success on the proposed appeal: the finance lease arrangements were not shown to be sham loans caught by the MLO and contemporaneous documents supported their characterisation as sale and leaseback transactions; even if characterized as loans exemptions under the MLO were potentially available; the statutory demands were not invalid merely because of apportionment or joint liability issues and VP ListCo’s liability under the Guarantee (or VPG’s joint promise) sufficed to support insolvency allegations; accordingly leave to appeal was refused…