7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP427/2000
The court sanctioned the proposed Modifications for the Company and 23 subsidiaries because the meetings were properly constituted, the result fairly reflected creditor views and disclosure was not so deficient as to vitiate consent; however, the court held it lacked jurisdiction to sanction modifications to Dockyard's scheme without the liquidators' consent and ruled that the Disputed Assets (Unencumbered Assets and Accounts Receivable that had not been transferred or realised into the scheme account) are assets of Dockyard in the winding up and are not subject to the Scheme's trust.