28 Jul 2009
RE SHIROKIYA HONG KONG LTD
- Citation
- RE SHIROKIYA HONG KONG LTD
- Court
- Court of First Instance
- Case number
- HCMP1176/2009
The Court confirmed the reduction of share capital because the reduction served a bona fide corporate purpose, involved no distribution to or diminution of liability of the sole shareholder, the company provided an undertaking to set aside $2,000,000 and maintain it for two years which, together with parent company support and current asset coverage of current liabilities, adequately protected creditors, and formal requirements including advertisement had been satisfied.