23 Aug 2002
RE WAH NAM GROUP LTD. (IN LIQUIDATION)
- Citation
- RE WAH NAM GROUP LTD. (IN LIQUIDATION)
- Court
- Court of First Instance
- Case number
- HCMP2518/2002
The court found that statutory procedural requirements (ss166 and 166A) were met, that shareholders and creditors meetings had been properly convened and resulted in overwhelming approval, that Newco provided a binding undertaking, and that the liquidators' net asset valuation methodology was acceptable in the circumstances; accordingly an intelligent and honest member of the classes might reasonably approve the schemes and the court sanctioned both the Shareholders Scheme and the Creditors Scheme.