9 Aug 2007
RE ADVANCED WIRELESS GROUP LTD
- Citation
- RE ADVANCED WIRELESS GROUP LTD
- Court
- Court of First Instance
- Case number
- HCMP683/2007
The court sanctioned the scheme because the statutory requirements of section 166 were satisfied: the class of creditors entitled to vote was properly constituted (ACE River did not require a separate class), the limited non‑compliance with service directions was technical and waived as negligible, the explanatory materials adequately disclosed risks, and an overwhelming bona fide majority of creditors had commercially decided the scheme provided a better return than liquidation; accordingly the court exercised its discretion to sanction the scheme.