Court Rejects Judicial Review Application to Challenge HKEX Delisting
On 26 February 2021, the High Court dismissed the application by Bolina Holding Co., Ltd. (Bolina) for leave to apply for judicial review of the decision of the Listing Review Committee of the Stock Exchange of Hong Kong Limited (HKEX) on 4 November 2020 to cancel the company’s listing for failure to satisfy the conditions for resumption of trading within the 18-month prescribed period (Remedial Period).
This is the latest in a line of recent High Court judicial review judgments made in favour of the HKEX which have generally endorsed its delisting procedures and the Listing Review Committee review process.