7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP412/2000
The court sanctioned the proposed Modifications to 24 of the 25 schemes (the Company and 23 subsidiaries) because the meeting was properly constituted, creditors were sufficiently informed, votes fairly reflected creditor views and the Modifications were a permissible enabling measure in creditors' interests; however the court has no jurisdiction to sanction modifications affecting Universal Dockyard Limited while its liquidators withhold consent, and the Disputed Assets (Unencumbered Assets and Accounts Receivable not transferred/realised) were held to be part of Dockyard's assets in the win…