2 Sept 2005
RE BARITS HO CHONG SECURITIES CO LTD
- Citation
- RE BARITS HO CHONG SECURITIES CO LTD
- Court
- Court of First Instance
- Case number
- HCMP1280/2005
The court confirmed the reduction because the statutory jurisdictional requirements were satisfied: a proper shareholder resolution existed, there was a discernible purpose, the Company would remain compliant with regulatory capital requirements and had sufficient liquid assets after the reduction so that creditors would not be prejudiced; therefore the reduction was ordered in terms of the draft.