China's Shandong Chenming faces Hong Kong winding up as appeal fails
Credit: Shutterstock/Phonlamai Photo
A mainland Chinese conglomerate has failed on a final appeal to block a Hong Kong court from hearing a winding up petition against it over an unpaid arbitral award, in a decision that local lawyers say has strengthened the position of creditors by taking a "broader and more commercially holistic" approach to the "benefit" threshold requirement for winding up a foreign company.
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