19 Mar 2010
RE SUMIDEN WIRE PRODUCTS HONG KONG CO LTD
- Citation
- RE SUMIDEN WIRE PRODUCTS HONG KONG CO LTD
- Court
- Court of First Instance
- Case number
- HCMP187/2010
Court sanctioned the reduction because the four statutory requirements were met: sole shareholder situation removed equity conflict, the shareholder was informed and participated in the underlying scheme, creditors were safeguarded (assets exceeded liabilities and major creditors consented), and the reduction had a bona fide discernible commercial purpose (group restructuring enabling disposal of the Subsidiary).