7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP421/2000
The court granted sanction to the proposed Modifications in respect of the Company and 23 Scheme Participating Subsidiaries but adjourned sanction for Universal Dockyard Limited because the liquidators had not consented; the Disputed Assets were held to be assets of Dockyard for the purposes of its winding up and not held on trust for scheme creditors because there had been no vesting or transfer of legal title or effective segregation to create a trust at the commencement of the winding up; accordingly the court lacked jurisdiction to sanction modifications affecting Dockyard without the liq…