18 Apr 2000
Re UDL Marine Pte Ltd.
- Citation
- Re UDL Marine Pte Ltd.
- Court
- Court of First Instance
- Case number
- HCMP415/2000
The court applied the rights test to classify creditors, found no dissimilarity of legal rights that warranted separate class meetings for internal or preferential creditors, accepted that disputed claims valued at zero may be excluded from voting if reasonably assessed in good faith, concluded identified irregularities were technical and waivable, and exercised its discretion to sanction the 25 Schemes on terms (including reserving costs and a Stock Exchange approval condition).