30 Apr 2009
RE CITIC INTERNATIONAL FINANCIAL HOLDINGS LTD
- Citation
- RE CITIC INTERNATIONAL FINANCIAL HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCMP685/2009
The court granted the petition because it was satisfied the reduction of capital and share premium had a discernible legitimate purpose (to set off shareholders' indebtedness), the shareholders were treated equitably, and creditors would not be prejudiced given the Company's surplus liquid assets and the undertaking to apply the credit to discharge part of the indebtedness; accordingly the draft order was made.