In the Matter of 58.com Inc - Judgment [2024] CIFSd 34 (02 April 2024)

The scheme of arrangement was sanctioned as it met all statutory requirements, was approved by the requisite majority, and was fair and reasonable to shareholders.

Citation: [2024] CIFSd 34
Parties: Subject Company: 58.com Inc
Jurisdiction: Cayman Islands
Judgment Date: 02 April 2024
Procedural Posture: Company Law Scheme of Arrangement / Judgment
Outcome: scheme sanctioned
Legal Topics: Scheme of Arrangement, Shareholder Rights

Company Law Financial Services Scheme of Arrangement Shareholder Rights

Case Brief

Summary, issues, holding and outcome

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Parties

58.com Inc

Subject Company

Procedural Posture

Company Law Scheme of Arrangement / Judgment

Legal Issues

1 Whether the scheme of arrangement proposed by 58.com Inc should be sanctioned by the court

Ratio Decidendi

The scheme of arrangement was sanctioned as it met all statutory requirements, was approved by the requisite majority, and was fair and reasonable to shareholders.

Court Disposition

scheme sanctioned

Orders

The scheme of arrangement is sanctioned.
The company is authorised to proceed with the scheme.