8 Feb 2006
RE MAINTAIN PROFITS LTD.
- Citation
- RE MAINTAIN PROFITS LTD.
- Court
- Court of First Instance
- Case number
- HCCW345/2002
The court exercised its discretion to dismiss the winding-up petitions and discharge the provisional liquidators because the parties had reached a comprehensive settlement, the provisional and conditional agreements and creditor support indicated restoration of solvency or lack of prejudice to creditors, no creditor sought substitution as petitioner, and dismissal would avoid undue costs and multiplicity of proceedings while preserving creditors' ability to pursue remedies if necessary.