27 Mar 2014
RE LEHMAN BROTHERS COMMERCIAL CORPORATION ASIA LTD
- Citation
- RE LEHMAN BROTHERS COMMERCIAL CORPORATION ASIA LTD
- Court
- Court of First Instance
- Case number
- HCCW441/2008
The court accepted the liquidators' reassessment and held it had clear jurisdiction under Winding-up Rule 96 to reduce and expunge the specified proofs of debt and that, following equitable common law principles (as explained in Re Searle and reconciled with Ex Parte Harper), the liquidators may effect an effective set-off by deducting overpaid interim dividends from future dividends until full credit is given; accordingly the orders sought were made.