7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP411/2000
The court sanctioned the proposed Modifications in relation to the Company and 23 Scheme Participating Subsidiaries because the meetings were properly constituted, creditor approval fairly reflected creditor views, disclosure was not so deficient as to vitiate consent, and the Modifications were a legitimate pragmatic attempt to achieve recovery. However, the court refused to sanction modifications affecting Universal Dockyard Limited because the liquidators had not consented and the court had no jurisdiction to sanction a variation of the scheme as to Dockyard without that consent. The court…