5 Sept 2005
RE SHOUGANG CONCORD INTERNATIONAL ENTERPRISES CO LTD
- Citation
- RE SHOUGANG CONCORD INTERNATIONAL ENTERPRISES CO LTD
- Court
- Court of First Instance
- Case number
- HCMP1224/2005
The court confirmed the reduction because statutory and jurisdictional requirements were satisfied, shareholders had been properly informed and passed a special resolution, the accumulated losses to be eliminated were predominantly permanent or otherwise addressed, and the Company’s undertakings to create and limit a Special Capital Reserve that credits the surplus and future recoveries provided adequate protection to existing creditors.