7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP429/2000
The court sanctioned the proposed Modifications to the Schemes for the Company and 23 of the Scheme Participating Subsidiaries but refused to sanction modifications in relation to Universal Dockyard Limited without the consent of Dockyard's liquidators; the Disputed Assets (certain Unencumbered Assets and Accounts Receivable not evidenced as transferred or received) constitute assets of Dockyard for the purpose of its winding up and are not held on trust for scheme creditors because no vesting or receipt had occurred to create a fully constituted trust; scheme creditors may nonetheless prove…