Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Waiver of claims

  • 23 May 2003

    RE GIDEON INVESTMENTS LTD

    Citation
    RE GIDEON INVESTMENTS LTD
    Court
    Court of First Instance
    Case number
    HCCW616/2000

    Given the insolvency of the companies, the widespread creditor consent (expressed at meetings or in writing), the impracticability and disproportionate cost of tracing and reconstruction, and the benefit to investors of implementing a pooled distribution scheme administered in Australia, the court will exercise its powers under section 200(3) to expunge specified proofs of debt and to waive specified claims so as to permit participation in the pooling scheme; accordingly the orders sought (as amended and corrected) were made.

  • 23 May 2003

    RE GIDEON HOLDINGS LTD

    Citation
    RE GIDEON HOLDINGS LTD
    Court
    Court of First Instance
    Case number
    HCMP4772/2002

    Given adequate notice, creditors' unanimous authorisations and written consents, the insufficiency of assets to satisfy claims, and the supporting Australian court findings, the High Court will permit expungement of specified proofs and waiver of specified claims to allow participation in the proposed pooling scheme and efficient distribution.

  • 23 May 2003

    RE KILLARNEY PASTORAL LTD

    Citation
    RE KILLARNEY PASTORAL LTD
    Court
    Court of First Instance
    Case number
    HCMP4771/2002

    The court granted the liquidators' applications to expunge specific proofs of debt and to waive specified claims because the companies lacked sufficient assets, the creditors (or their representatives) had authorised the liquidators to seek such orders and given supporting orders and findings in related Australian proceedings it was appropriate to allow participation in a pooling scheme and enable the Australian liquidator/receiver to accept proofs as trustee for distribution.