Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Voting and disclosure obligations

  • 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…

  • 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…