In the case of Re Victor River Ltd [2021] HKCFI 886, which concerns the winding-up of a foreign company, the Court of First Instance applied the long-developed three core requirements which must be satisfied before exercising discretionary jurisdiction of the Court. In particular, the Court discussed how the holding of shares in a delisted company may impact on the Court’s consideration of the three core requirements.
The three core requirements, namely, that: (1) the foreign company had a sufficient connection with Hong Kong; (2) there must be a reasonable possibility that the winding-up order would benefit those applying for it; and (3) the Court must be able to exercise jurisdiction over one or more persons interested in the distribution of the company’s assets.
