Hong Kong Case Law: Decisions & Judgments

Topic

Sanction

Legal area

Court

19 Mar 2024

RE ZHONGLIANG HOLDINGS GROUP COMPANY LTD

Citation

[2024] HKCFI 808
Court

Court of First Instance
Case number

HCMP1631/2023

The Court sanctioned the Scheme because it met statutory requirements and established principles: the Scheme was for a permissible purpose to avoid likely liquidation, Scheme Creditors properly formed a single class since their rights in and out were not materially different, the convening requirements and explanatory statement obligations were satisfied, the meeting was valid despite being constituted by two proxy holders because the chair was court-appointed and lawfully exercised proxies, the Scheme had sufficient Hong Kong connection and practical international effectiveness, and the use…
29 Feb 2024

LI SANG EDWARD v. DISCIPLINARY BOARD UNDER THE LAND SURVEY ORDINANCE

Citation

[2024] HKCA 197
Court

Court of Appeal
Case number

CACV210/2023

The Board was correct to dismiss charges alleging the surveyor knowingly certified an incorrect area because the appellant failed to prove the requisite knowledge; only the failure to return the report amounted to professional misconduct; a written reprimand was within the range of reasonable sanctions; the appeal is dismissed and costs ordered against the appellant in specified terms.
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.
17 Oct 2019

DA YU FINANCIAL HOLDINGS LTD (formerly known as CHINA AGROTECH HOLDINGS LTD) (in liquidation)

Citation

[2019] HKCFI 2531
Court

Court of First Instance
Case number

HCCW325/2014

The court sanctioned the scheme because the statutory and discretionary requirements were satisfied: the scheme meeting was properly convened, scheme creditors received adequate information, the requisite majorities voted in favour, an intelligent and honest creditor could reasonably approve the scheme, there was a sufficient connection with Hong Kong and no operable 'blot' on the scheme. Further, Perfect Gate's participation in the Cayman proceedings constituted submission to the Cayman court's jurisdiction, justifying recognition and effect being given to the Cayman EGM Judgment in Hong Kon…
17 Mar 2017

RE SHANELL LTD

Citation

RE SHANELL LTD
Court

Court of First Instance
Case number

HCMP173/2017

The court sanctioned the scheme because it satisfied statutory and equitable requirements: permissible purpose to avoid liquidation, creditors formed a single class with similar rights, the creditors' meeting was duly convened, creditors received sufficient information, the requisite majority approved the scheme, and an intelligent and honest member of the class might reasonably approve; exercise of discretion favoured sanction as the scheme provided improved recoveries and continuation of the business.

Hong Kong Case Law

RE ZHONGLIANG HOLDINGS GROUP COMPANY LTD

LI SANG EDWARD v. DISCIPLINARY BOARD UNDER THE LAND SURVEY ORDINANCE

RE CENTURY SUNSHINE GROUP HOLDINGS LTD AND OTHERS

DA YU FINANCIAL HOLDINGS LTD (formerly known as CHINA AGROTECH HOLDINGS LTD) (in liquidation)

RE SHANELL LTD