21 Dec 2001
RE HIH INSURANCE (ASIA) LTD
- Citation
- RE HIH INSURANCE (ASIA) LTD
- Court
- Court of First Instance
- Case number
- HCCW337/2001
The court granted a six-month extension of the provisional liquidations because the provisional liquidators demonstrated that continuation will likely produce tangible cost and time savings, serve creditors' interests by facilitating a scheme of arrangement, cause no identifiable prejudice to creditors, and is supported by the Commissioner of Insurance and by persuasive foreign authority endorsing the combined use of provisional liquidation and schemes for insurance companies.