2 Apr 2003
RE CIL HOLDINGS LTD
- Citation
- RE CIL HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCMP2799/2002
A vote to adjourn does not amount to a rejection of the substantive resolution and an adjourned meeting is a continuation of the original meeting; accordingly the reconvened meeting on 20 December 2002 was valid without a new court order. The Excluded Claimants' legal rights were not affected by the Amended Scheme because the Company's status and available asset pool were not diminished and payments to Scheme Creditors were to be funded solely by the Subscriber's subscription; therefore the court had jurisdiction and in the exercise of its discretion sanctioned the Amended Scheme on the Subsc…