7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP432/2000
The court sanctioned the proposed Modifications for the Company and 23 of the 24 non‑insolvent scheme participating subsidiaries because the creditor majorities and disclosure were sufficient and the Modifications were not shown to be unfair or in bad faith; however the court had no jurisdiction to sanction modifications of Dockyard's scheme without the consent of Dockyard's liquidators, and held that the Disputed Assets (assets and receivables of Dockyard that had not been transferred or realised prior to the liquidation) constitute assets of Dockyard in its winding up rather than being held…