29 Jun 2007
RE INTELLIGENT GROUP ENTERPRISE LTD
- Citation
- RE INTELLIGENT GROUP ENTERPRISE LTD
- Court
- Court of First Instance
- Case number
- HCMP700/2007
The court granted sanction because the statutory requirements and procedural safeguards were met: special resolutions were passed, the reduction served a legitimate commercial purpose, shareholders were treated equitably, adequate evidence showed sufficient liquid assets and working capital would remain, and creditors’ interests were adequately safeguarded.
- Reduction of share capital
- Cancellation of share premium account
- Creditor protection
- Court sanction of capital reduction