3 May 2001
Re The Prudential Enterprise Ltd.
- Citation
- Re The Prudential Enterprise Ltd.
- Court
- Court of First Instance
- Case number
- HCCW594/1999
The Revised Offer was not plainly suitable or reasonable because (a) the core disputes (Rights Issue and Interstitial Scheme) involve complex factual and legal issues unsuited to resolution by an expert valuer, (b) the hybrid structure did not remove the need for full court adjudication and therefore did not produce the economy/expedition required, and (c) the offer denied equality of arms by restricting access to company books and the right to make submissions; accordingly it was not an abuse of process for petitioners to continue and the 1st respondent's summons to strike out or stay must b…