9 Jul 2009
RE 3D-GOLD JEWELLERY HOLDINGS LTD
- Citation
- RE 3D-GOLD JEWELLERY HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCMP1196/2009
The court sanctioned the schemes because the statutory requirements were complied with, each scheme involved a single class of unsecured creditors who unanimously approved the schemes after adequate explanation, and the proposed restructuring and sale of Hang Fung's remaining stock to the Investor, although at a discount, would realise materially higher returns for creditors than the likely forced sale outcomes in liquidation; accordingly leave to sell was granted as being in the best interests of creditors.