7 Jun 2006
RE UDL HOLDINGS LTD AND OTHERS
- Citation
- RE UDL HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP414/2000
The court sanctioned the proposed Modifications to the Schemes for UDL Holdings Limited and 23 of its Scheme Participating Subsidiaries but could not sanction the Modifications in respect of Universal Dockyard Limited because the liquidators had not consented; the Disputed Assets of Dockyard (Unencumbered Assets and Accounts Receivable not transferred or realised) are assets of Dockyard in its winding up and are not to be dealt with pursuant to the Schemes or Modifications; scheme creditors may prove in the liquidation for any shortfall after what is recoverable under any trust arising from a…