Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Confirmation of capital reduction

Legal area

Court

9 Jun 2006

RE COSMOS INSURANCE MANAGEMENT LTD

Citation

RE COSMOS INSURANCE MANAGEMENT LTD
Court

Court of First Instance
Case number

HCMP652/2006

The court confirmed the reduction because the losses to be written off were realised and permanent, the reduction would eliminate equivalent accumulated losses and better reflect the company's financial position for its new business, statutory procedures had been complied with, the only identified creditor had been informed and raised no objection, and the interests of creditors would not be prejudiced.
9 Dec 2003

RE CONSTELLATION HOLDINGS LTD

Citation

RE CONSTELLATION HOLDINGS LTD
Court

Court of First Instance
Case number

HCMP4160/2003

The petition to confirm the reduction of share capital was granted because the reduction reflected the true financial position, both shareholders consented, there were no creditors or outstanding liabilities to be prejudiced, auditors confirmed the position and statutory requirements under section 58 were met.