27 Nov 2008
RE SUN MOTOR INDUSTRIAL CO LTD
- Citation
- RE SUN MOTOR INDUSTRIAL CO LTD
- Court
- Court of First Instance
- Case number
- HCMP1486/2008
The scheme was sanctioned because the statutory conditions of s.166 were satisfied: the class of unsecured non‑preferential creditors was properly constituted, the meeting was duly convened and informed, a requisite majority in number and value approved the scheme in good faith, and sanctioning the scheme offered a realistic recovery to creditors and preserved the only significant realizable assets where alternative outcomes would likely yield nothing.