9 Jan 2015
RE THE GRANDE HOLDINGS LTD
- Citation
- RE THE GRANDE HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCCW177/2011
The court admitted McVitie’s proof for voting purposes in part at US$26,092,345.29. The admission reflects that the Kayne creditors received recoveries (US$4,000,000 from Emerson and US$28,000,000 under the sale/settlement) which reduce the amount provable to avoid double recovery; where apportionment between purchase of the judgment and settlement of co-obligor claims is uncertain, the court will admit only the quantifiable net amount and allow the Provisional Liquidators’ reduction to stand.