20 Feb 1998
RE PEREGRINE INVESTMENTS HOLDINGS LTD
- Citation
- RE PEREGRINE INVESTMENTS HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCCW20/1998
The court refused to sanction the blanket release in clause 9.3 because it would prevent the liquidators pursuing potential misfeasance claims arising from PSUK directors' bonus resolutions; sanction was granted only after clause 9.3 was amended by a proviso preserving future action by the Provisional Liquidators against persons who were directors of PSUK between 1 January 1997 and the date of the Order, and the Santander deal was approved as yielding superior creditor value compared to BNP.