30 Aug 2017
RE X LTD
- Citation
- RE X LTD
- Court
- Court of First Instance
- Case number
- HCCW118/2017
The court will sanction the sale despite absence of an independent valuation because the urgent need to preserve the ongoing kindergarten operation, the provisional liquidators' quick valuation and evidence that the offer was at the upper end of indicative bids, and the lack of any realistic competing compliant offers meant the sale process and price were within the range of reasonable procedures; adjourning would risk loss of purchaser and interruption of business.