16 Feb 2007
RE KANSA GENERAL INTERNATIONAL INSURANCE CO LTD, HONG KONG BRANCH
- Citation
- RE KANSA GENERAL INTERNATIONAL INSURANCE CO LTD, HONG KONG BRANCH
- Court
- Court of First Instance
- Case number
- HCCW308/1995
The court has jurisdiction under the Companies Ordinance (notably s 206(2), s 200(3) and s 287) to reconstitute a committee of inspection to give effect to creditors' determinations; clause 7.1.1 of the Scheme, when construed commercially and in light of market precedents and apparent drafting error, must be read as providing three alternative modes of termination (the liquidator with agreement of the committee may terminate as a standalone option), and accordingly the court ordered reconstitution of the committee and directed expedited taxation so termination and final distribution may proce…