28 Sept 2016
RE CHINA SHANSHUI INVESTMENT CO LTD
- Citation
- RE CHINA SHANSHUI INVESTMENT CO LTD
- Court
- Court of First Instance
- Case number
- HCCW398/2015
The Company and opposing contributories produced credible contemporaneous evidence (notably a 30 September 2010 report describing an intention to inject funds into Hong Kong companies to comply with Mainland foreign exchange rules and to retire the Company’s bank borrowings) and established substantial grounds for a bona fide defence that the advances were intended as capital injections and that the loan agreements may be sham; accordingly the petitions cannot succeed at this interlocutory stage and should not proceed to winding up on the petitioners' case alone.