7 Jun 2006
RE UNIVERSAL DOCKYARD LTD
- Citation
- RE UNIVERSAL DOCKYARD LTD
- Court
- Court of First Instance
- Case number
- HCCW663/2002
The court sanctioned the Modifications for the Company and 23 Scheme Participating Subsidiaries because the court meeting lawfully reflected creditors' views, disclosure was not so deficient as to vitiate consent and the Modifications were within bounds of what an intelligent and honest creditor might approve; however the court lacked jurisdiction to sanction modifications binding on Dockyard without the liquidators' consent and held that the Disputed Assets were not held on trust for scheme creditors at the commencement of Dockyard's winding up because there was no vesting or transfer to New…