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HCCW 172/2018
[2021] HKCFI 2737
IN THE HIGH COURT OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
COURT OF FIRST INSTANCE
COMPANIES WINDING-UP PROCEEDINGS NO 172 OF 2018
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IN THE MATTER of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32)
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and
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IN THE MATTER of Ding He Mining Holdings Limited (the “Company”)
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Between
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The Joint and Several Liquidators of
Ding He Mining Holdings Limited |
Applicant |
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and
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Hong Kong Media Enterprises Holdings Limited |
Intended Respondent |
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Before: Hon Harris J in Chambers
Date of Hearing: 8 September 2021
Date of Decision: 8 September 2021
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D E C I S I O N
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1. I have before me a summons dated 26 July 2021 by the Liquidators of the Company, Ding He Mining Holdings Limited, the Order sought is as follows:
“1. Leave for Hong Kong Media Enterprises Holdings Limited (‘HKME’) to be joined as the Respondent herein for the purposes of costs.
2. Leave to the Respondent to purchase, and the Company to sell, (i) 36,000,000 issued shares of CVM Magnesium Sdn Bhd (‘CVM’); and (ii) the entire indebtedness owed by CVM to the Company, for the consideration of HK$12,000,000.
3. Insofar as necessary for paragraph 2 hereinabove, the Liquidators do take all steps to effect the aforementioned sale and transfer.
4. Costs of and occasioned by this application to be paid by HKME.”
2. The application is necessary because it involves the acquisition by a member of the Committee of Inspection of some of the Company’s assets, namely, Hong Kong Media Enterprises Holdings Limited, the Respondent to the application[1]. The other two members of the Committee of Inspection support the sale of the shares referred to in [2] of the Order quoted above.
3. I do not think it is necessary to go into the commercial rationale of why the Liquidators, the Respondent and the other two members of the Committee of Inspection think that it is in the best interests of the liquidation of the Company for the sale to take place for the agreed consideration. It will suffice to say that it seems to me that the application is properly brought and I should make an order in the terms of the summons.
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(Jonathan Harris) |
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Judge of the Court of First Instance |
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High Court |
Ms Natalie So, instructed by Gilbert Tang & Co, for the liquidators
Attendance of Wong & Lawyers, for the intended respondent, was excused
[1] Rules 148, 151 of the Companies (Winding Up) Rules (Cap 32H); Order 62, rule 6A of the Rules of the High Court (Cap 4A).
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