18 Apr 2000
Re Faith On International Ltd.
- Citation
- Re Faith On International Ltd.
- Court
- Court of First Instance
- Case number
- HCMP430/2000
The court applied the rights test for class constitution, held that the meetings were not unrepresentative and that inclusion of internal creditors did not produce confiscation or injustice; disclosure and valuation of disputed claims were not shown to be made in bad faith nor likely to have materially affected votes; accordingly the court exercised its discretion to sanction the 25 Schemes of Arrangement subject to the stated condition precedent (Stock Exchange approval).