9 Dec 2005
RE GUANGNAN (HOLDINGS) LTD
- Citation
- RE GUANGNAN (HOLDINGS) LTD
- Court
- Court of First Instance
- Case number
- HCMP2273/2005
The court sanctioned the reduction because the company demonstrated permanent realised losses justifying elimination of capital accounts, complied with procedural requirements (special resolution, disclosure and Stock Exchange clearance), shareholders were equally affected, there were no objections, and the undertaking given sufficiently protected creditors from prejudice.