9 Jul 2009
RE 3D-GOLD CO LTD
- Citation
- RE 3D-GOLD CO LTD
- Court
- Court of First Instance
- Case number
- HCMP1205/2009
The schemes were sanctioned because the statutory prerequisites were satisfied, each class of creditors (single class) was fully informed and voted unanimously, and the restructuring offered materially higher recoveries and faster realisation than likely insolvent liquidation; leave to sell Hang Fung's remaining stock was granted because the price offered by the Investor, although discounted, produced materially better returns than estimated forced-sale values and was therefore in the best interests of Hang Fung and its creditors.