3 Feb 2004
RE GLOBAL MASTER INTERNATIONAL LTD
- Citation
- RE GLOBAL MASTER INTERNATIONAL LTD
- Court
- Court of First Instance
- Case number
- HCMP5426/2003
The court confirmed the reduction because the special resolution was validly passed in accordance with the Articles, the purpose of the reduction was clearly stated, shareholders would be treated in accordance with the class rights, the Company had no actual or contingent liabilities and had sufficient cash to effect the repayment, notice requirements were satisfied and there was no opposition from creditors or contributories; accordingly it was appropriate to confirm the reduction and to dispense with settlement of a list of creditors.