7 Jul 2017
SHANDONG CHENMING PAPER HOLDINGS LTD v. ARJOWIGGINS HKK 2 LTD
- Citation
- SHANDONG CHENMING PAPER HOLDINGS LTD v. ARJOWIGGINS HKK 2 LTD
- Court
- Court of First Instance
- Case number
- HCMP3060/2016
The court found there was a reasonable prospect that the defendant would derive a benefit from a Hong Kong winding‑up order because the appointment of a liquidator would immediately wrest control of the company in Hong Kong, threaten its listed status and reputation, and provide leverage likely to induce payment and allow investigation into group restructuring; coupled with the public interest in enforcing an arbitration award against an issuer with a Hong Kong listing, these considerations justified permitting the petitioner to seek a winding‑up petition and rejecting the Company’s originati…