23 May 2013
JHR FISK AND DJ BRIDGEMAN AS LIQUIDATORS OF FCS LOANS LIMITED (IN LIQUIDATION) HC WN CIV-2013-485-840
- Citation
- openlaw-cd8c623a_15a2_4278_97b4_d37552bc45e8.pdf
- Court
- High Court
The court granted the exemption under s255(4) because the direct mailing cost to 3,141 preference shareholders was disproportionate to the minimal benefit given the improbability of any dividend, and publication of the six monthly report on the Registrar of Companies and firm website (with a notifying letter) provided a reasonable alternative that conserved estate funds for creditors.