Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Registration of minute

Legal area

Court

22 Nov 2005

RE ING INVESTMENTS ASIA LTD

Citation

RE ING INVESTMENTS ASIA LTD
Court

Court of First Instance
Case number

HCMP1833/2005

The Court confirmed the reduction because the special resolution was validly passed, the articles permitted the reduction, the Company adduced credible financial evidence showing excess paid up capital, there were no liabilities or contingent liabilities to be prejudiced, advertising requirements were complied with and the interests of creditors and shareholders were adequately safeguarded.
4 Apr 2003

RE SHOUGANG CONCORD CENTURY HOLDINGS LTD

Citation

RE SHOUGANG CONCORD CENTURY HOLDINGS LTD
Court

Court of First Instance
Case number

HCMP392/2003

The court confirmed the reduction of the share premium account because the accumulated loss to be eliminated comprised realised losses unrepresented by available assets, the reduction treats shareholders equitably, has a discernible purpose of enabling future distributions, and does not prejudice creditors; consequently confirmation under section 59 is appropriate and registration of a minute under section 61 was unnecessary for this share premium reduction.