Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Winding‑up stay

  • 30 Sept 2024

    RE HONG KONG PETROCHEMICAL COMPANY LTD AND ANOTHER

    Citation
    [2024] HKCFI 2601
    Court
    Court of First Instance
    Case number
    HCMP886/2024

    The Scheme and associated capital reduction were sanctioned because the Court was satisfied the Scheme served a permissible restructuring purpose, the creditors formed a single class with identical rights in and rights out, the Convening Order and notice/information requirements were complied with, statutory majorities were obtained, there was no blot or prejudice to creditors, and the capital reduction was a technical, equitable step necessary for the restructuring and safeguarded creditors, therefore sanction and confirmation were appropriate.

  • 29 Mar 2000

    RE RICHEL GROUP HONG KONG LTD.

    Citation
    RE RICHEL GROUP HONG KONG LTD.
    Court
    Court of First Instance
    Case number
    HCCW77/1999

    The court granted leave to the contributories and Mr Pines to apply under O.12 r.8 out of time because satisfactory explanations for delay were proved (residence abroad, frozen accounts, illness and lack of notice of registered‑office change); service on Mr Pines was defective as he was absent and thus service and default judgment against him were set aside; Hong Kong was not the clearly appropriate forum for Richel — the Korean courts had the most real and substantial connection — therefore proceedings against Richel were stayed in favor of South Korea; leave to serve Mr Pines out of jurisdi…