Hong Kong’s Securities and Futures Commission said it will press ahead with detailed provisions of a HK$1 billion ($128 million) plan to compensate minority shareholders of China Evergrande Group.
The move keeps the restitution process on track despite a legal challenge from Evergrande’s liquidators, who sought judicial review of the arrangement.
That compensation deal was struck in April with PwC Hong Kong to settle SFC investigations into the auditor’s work on Evergrande.
The case extends the fallout from Evergrande’s collapse, with shareholder redress now moving forward even as related court and regulatory actions continue in Hong Kong.