14 May 1999
In re UDL Argos Engineering & Heavy Industries Co. Ltd.
- Citation
- In re UDL Argos Engineering & Heavy Industries Co. Ltd.
- Court
- Court of First Instance
- Case number
- HCCW581/1998
The petition was dismissed (no winding up order) because the court was satisfied there was sufficient in‑principle creditor support for the proposed scheme to justify refusing immediate winding up: disputed claims cannot be taken at full face value for assessing support; internal creditor support could not be disregarded on principle; and no compelling evidence (fraud, need for investigation or material deterioration) justified winding up at that stage.