7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP422/2000
The court sanctioned the proposed Modifications in respect of the Company and 23 Scheme Participating Subsidiaries but refused to sanction the Modifications insofar as they affected Universal Dockyard Limited because the liquidators had not consented and the court lacked jurisdiction to bind a company in liquidation without the liquidator's consent; the Disputed Assets of Dockyard (Unencumbered Assets and Accounts Receivable that had not been vested or transferred to Newco) constitute assets of Dockyard for the purposes of its winding up and are not held on trust for scheme creditors because…