Read the full judgment text of HCA 1269/2021 on BabelCite. This High Court CFI judgment was delivered on 15 June 2023.
1. Commencing on 11 January 2023 I heard two trials back-to-back concerning the enforceability of keepwell deeds and equity interest purchase undertakings (“ EIPU ”) made by Mainland [1] companies in respect of the liabilities of subsidiaries under bonds issued by them, and guaranteed by other subsidiaries, to raise US$ in the international debt market. The first concerned Peking University Founder Group Company Limited (“ PUFG ”). PUFG is associated with Peking University and ultimately owned b
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