Read the full judgment text of HCMP 001354/2008 on BabelCite. This High Court CFI judgment was delivered on 24 September 2008.
1. This is a petition presented by Transamerica Occidental Life Insurance Co (“TOLIC”) and Transamerica Life Insurance Co (“TLIC”) under section 24 of the Insurance Companies Ordinance, Cap. 41. They seek the sanction of the court to a scheme (“the Scheme”) involving the transfer to TLIC of the transferred policies constituting all of the long term business of TOLIC carried on by TOLIC in Hong Kong. The main purpose of the transfer proposed by the Scheme is to give effect to the proposed merge