18 Apr 2000
Re UDL Marine Operation Ltd.
- Citation
- Re UDL Marine Operation Ltd.
- Court
- Court of First Instance
- Case number
- HCMP416/2000
The court applied the rights-based test for class determination and concluded that including internal creditors did not produce confiscation or injustice, the meetings were representative, votes (after necessary adjustments) met the statutory majority, disclosure was not so deficient as to have materially affected voting, technical irregularities were waivable, and therefore the 25 Schemes of Arrangement should be sanctioned (subject to the stated condition precedent).