3. Practice Direction 3.3: Voluntary Mediation in Petitions Presented under Section 724 of the Companies Ordinance, Cap. 622 and Section 177(1)(f) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, Cap. 32
Practice Direction 3.3 sets out the provision for voluntary mediation in respect of petitions presented under section 724 of the Companies Ordinance, Cap. 622 and petitions for winding up a company on just and equitable grounds under section 177(1)(f) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, Cap. 32, where there is no allegation of insolvency concerning the subject company and no allegation that the affairs of the company would require full investigation in the public interest.
Where the petitions are purely disputes between shareholders, not involving the interest of the general body of creditors of the subject company or affecting the public’s interest, the court wishes to encourage those shareholders to consider the use of mediation as a possible additional means of resolving their disputes in a cost-effective and more expeditious manner.
For details, please go to the Judiciary’s website.