12 Oct 2016
RE SHANELL LTD
- Citation
- RE SHANELL LTD
- Court
- Court of First Instance
- Case number
- HCMP1439/2016
The court ordered that a meeting of creditors be summoned because the Financial Creditors' legal rights were sufficiently similar to be treated as a single class for the purposes of the creditors' meeting; the meeting is necessary to test whether the Scheme is approved by the requisite majorities and is the appropriate procedural step under s670, with the company bearing the risk if classes are improperly constituted.