16 Feb 2007
RE HVB CAPITAL ASIA LTD
- Citation
- RE HVB CAPITAL ASIA LTD
- Court
- Court of First Instance
- Case number
- HCMP107/2007
The court confirmed the reduction because the petitioner demonstrated a clear commercial purpose for returning surplus capital, the post-reduction paid-up capital exceeds Japanese regulatory minima for underwriting, the company’s accounts show ample unencumbered realizable assets to meet creditors’ claims and the proposed return, and creditor interests were otherwise safeguarded (including HVB’s subordination and no objections), satisfying the requirements of section 59(1) Companies Ordinance.