28 Aug 2020
RE MINLOY LTD AND OTHERS
- Citation
- [2020] HKCFI 2215
- Court
- Court of First Instance
- Case number
- HCCW229/2019
Judge held that allegations of shareholder/director misconduct in section E were irrelevant to insolvency and struck them out; the petition was irregular as a single petition for three companies but, on the merits of interlocutory applications, the court declined to strike out the petition in whole and instead ordered a stay of the petition until final determination of the related unfair prejudice appeals (save for rectifying the procedural irregularity), and validated the sale of specified non-core land and use of proceeds because affirmative evidence showed the sale was beneficial to the co…