Read the full judgment text of HCMP 1695/2023 on BabelCite. This High Court CFI judgment was delivered on 11 January 2024.
1. China Aoyuan Group Limited (“ Holdings ”) and Add Hero Holdings Limited (“ Hero ”) seek the Court’s sanction under section 673 of the Companies Ordinance , Cap. 622 (“ Ordinance ”), of two schemes of arrangement (“ Scheme ” or “ Schemes ” as the context requires) between each of them and the groups of creditors I describe later in these reasons [1] . The purpose of the Schemes is to restructure debt in excess of US$6 billion owed by Holdings and its principal subsidiary Hero, to avoid the liq
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