30 Oct 2002
RE AKAI HOLDINGS LTD.
- Citation
- RE AKAI HOLDINGS LTD.
- Court
- Court of First Instance
- Case number
- HCMP3381/2002
The court sanctioned the creditors' scheme because the creditors' class was properly constituted, the explanatory material complied with statutory requirements, the statutory majority approved the scheme, and the minor procedural defect in Bermuda publication was a technical irregularity which the court properly waived; the scheme was a reasonable means to realise the Company's listing value for creditors.