Chong Hing Bank Ltd: privatisation by scheme of arrangement sanctioned

Citing a "lack of a meaningful response from the SFC", Justice Linda Chan appointed Winston Poon SC and Eva Sit SC as amici curiae (friends of the court) to opine on the meaning of Rule 2.10 of the Takeovers Code. In her judgment, this rule prohibits concert parties from voting at the court meeting, rather than simply requiring that their votes shall not be counted for the purposes of Rule 2.10. This is a different view that taken by Justice Jonathan Harris in the case of Cosmos Machinery Enterprises Ltd, but she regards his view as obiter (non-binding).

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