7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP425/2000
The court sanctioned the proposed modifications in respect of the Company and 23 scheme subsidiaries because the meetings were properly constituted, the explanatory material was adequate in all the circumstances, and the modifications were put forward in good faith; however the court has no jurisdiction to sanction Dockyard's scheme modifications without the liquidators' consent and adjourned Dockyard's petition; the disputed Unencumbered Assets and Accounts Receivable of Dockyard that had not been transferred or realised do not fall within a trust for scheme creditors and therefore constitut…