24 Oct 2006
RE C.A. PACIFIC FINANCE LTD (in Liquidation)
- Citation
- RE C.A. PACIFIC FINANCE LTD (in Liquidation)
- Court
- Court of First Instance
- Case number
- HCCW36/1998
The court granted directions approving the liquidators' proposals to convert corporate actions into cash (with limited exceptions) and to allocate and distribute proceeds following established guidelines — cash clients to be preferred over margin clients where a shortfall exists and cash clients to share pari passu — because the pledged shares were not the company's beneficial property, conversion minimizes costs and the Official Receiver and committees raised no objection.