3 Dec 2001
UDL ARGOS ENGINEERING & HEAVY INDUSTRIES CO. LTD. v. LI OI LIN
- Citation
- UDL ARGOS ENGINEERING & HEAVY INDUSTRIES CO. LTD. v. LI OI LIN
- Court
- Court of Final Appeal
- Case number
- FACV11/2001
The Court held that classes must be constituted by reference to the similarity of legal rights affected by the scheme; preferential creditors and internal creditors could sensibly be included in a single class where their legal rights were not so dissimilar as to prevent them consulting together; internal creditors special interests do not automatically require separate meetings and may be addressed by the Courts discretion when sanctioning; accordingly the scheme meetings were properly constituted and the sanction was lawful, so the appeals were dismissed.