21 Nov 2006
RE HONG KONG PHARMACEUTICAL HOLDINGS LTD
- Citation
- RE HONG KONG PHARMACEUTICAL HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCCW1018/2004
The court sanctioned the revised scheme because the new scheme meeting was properly convened with clear notice of the 40% minimum return condition, the class of creditors was properly constituted and informed, adequate publicity and claim notification measures had been taken such that creditors were not prejudiced by the abridged timetable or one-day cut-off, investor undertakings and funds made the 40% minimum return likely (approx. 40.2%), the scheme compared favourably with likely winding-up returns, and Bermuda sanction had been granted; accordingly the court had jurisdiction to sanction…