16 Dec 2013
WINBLESS INC v. CENTRAL BILLION INC AND OTHERS
- Citation
- WINBLESS INC v. CENTRAL BILLION INC AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW371/2011
The companies are manifestly solvent with substantial reserves; the proposed distributions are within the directors' powers and the reasons given are such that an intelligent and honest person could hold them to be in the companies' interests; no compelling evidence was shown that the distributions would injure the companies or prejudice creditors; accordingly the court ordered distribution of sale proceeds according to each company's shareholding and directed costs be paid from company assets.