24 May 2006
RE SAITON ENGINEERING LTD ("SAITON")
- Citation
- RE SAITON ENGINEERING LTD ("SAITON")
- Court
- Court of First Instance
- Case number
- HCCW819/2005
Validation orders were granted for payment of one months salaries and for the purchase of materials because those payments were necessary to complete projects, preserve asset value and were not likely to prejudice creditors; validation was refused for payment of legal/professional fees because those costs related to opposing winding up and restructuring and should not be borne by unsecured creditors.