7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP428/2000
The court sanctioned the proposed Modifications for the company and 23 of the Scheme Participating Subsidiaries because the meeting results fairly reflected creditor views, disclosure and good faith were adequate and the modifications were enabling. However the court had no jurisdiction to sanction modifications to Universal Dockyard Limited's Scheme without the liquidators' consent; the Disputed Assets that had not been validly transferred or vested in Newco or the scheme administrator at the commencement of Dockyard's winding up constitute assets of Dockyard for the purposes of its winding…