7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP420/2000
The court sanctioned the proposed Modifications as to the Company and 23 of its subsidiaries because the meeting result fairly reflected creditor views, disclosure was not so inadequate as to vitiate consent, and the Modifications were put forward in good faith as enabling measures to maximize recoveries. The court held it had no jurisdiction to sanction modifications affecting Universal Dockyard Limited while its liquidators withheld consent; the disputed Unencumbered Assets and Accounts Receivable of Dockyard had not been transferred or vested in Newco or the scheme administrator at the com…