9 Jan 1989
RE MANDARIN RESOURCES CORPORATION LIMITED
- Citation
- RE MANDARIN RESOURCES CORPORATION LIMITED
- Court
- Court of First Instance
- Case number
- HCMP2594/1988
The court sanctioned the reduction because the company complied with statutory requirements, provided undertakings to protect the non-distributable reserve and creditors, the opponents failed to show prejudice or justify delay, and the company's forfeiture regime (Article 35) and steps taken gave purchasers good title; accordingly confirmation of the special resolution was appropriate and in the best interests of the company and its shareholders.