11 Jan 2002
RE THE PRUDENTIAL ENTERPRISE LTD
- Citation
- RE THE PRUDENTIAL ENTERPRISE LTD
- Court
- Court of Appeal
- Case number
- CACV865/2001
The offer did not plainly provide all that the petitioners could reasonably expect because central disputes (the Rights Issue and alleged misappropriation to Interstitial) had to be determined by the court before a proper valuation could be made; the valuation mechanism lacked adequate safeguards (finality without reasons, limited access to information and submissions) and risked inequality of arms and non-completion; accordingly it was not an abuse of process to continue the petition and the striking out/stay application was rightly dismissed.