7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP418/2000
The court sanctioned the proposed Modifications as to the Company and 23 of its subsidiary schemes because the meeting result fairly reflected creditors' views, the explanatory materials were not so deficient as to change outcomes, and the Modifications were within what an intelligent and honest creditor might approve. However, as to Universal Dockyard Limited the court held it had no jurisdiction to sanction modifications without the liquidators' consent where the company is in liquidation and the disputed assets had not been transferred or vested in Newco or the scheme administrator; accord…