Re Shunfeng International Clean Energy Ltd

HCCW 84/2025

[2025] HKCFI 4119

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES WINDING-UP PROCEEDINGS NO 84 OF 2025

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D E C I S I O N

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1.I have before me a petition to wind up the Company. The matter first came on before Madam Justice Linda Chan on 26 May 2025. Chan J granted the Company a three-month adjournment to give it an opportunity to formulate a proposal for creditors to consider, which would restructure the Company’s very considerable debt.

2.Before me there is a five-page memorandum prepared by Fortune Ark Restructuring Limited dated 18 August 2025 setting out in very general terms an outline restructuring proposal.

3.The Petitioner is not satisfied that the Company has made meaningful progress in attempting to address its serious financial problems and seeks an immediate winding up order. I will not make a winding up order today, I will adjourn the petition until 10am on 19 November 2025.

4.The Company is to file evidence reporting on the progress of any debt restructuring by 5pm on 24 October 2025, that report should detail the Company’s existing creditors and liabilities, its assets and an estimate of their value and as detailed as possible a proposal for the realisation of the value of the Company’s assets and the repayment of the Company’s unsecured creditor debt.

5.This will permit the Petitioner and the Court to make an informed decision whether or not the Company should be given further time to attempt to introduce a scheme of arrangement or should be immediately wound up.

6.I understand from the submissions filed by the Company that it anticipates by October issuing an application to convene a meeting of creditors to vote on a scheme. That being the case the Company should have no difficulty in complying with these directions. If the Company and the creditors agree terms of a further adjournment that can be dealt with by consent to avoid a hearing on 19 November 2025.

7.I will grant general liberty to apply and reserve the costs.

Mr Charlie Liu, instructed by Kwok Yih & Chan, for the Petitioner

Mr Thomas Wong and Mr William Wong, instructed by P C Woo & Co, for the Company

Ms R Leung, of the Official Receiver

Koo, Li & Partner LLP, for the Supporting Creditor (Rainbow Fort Investment Limited), did not appear