Read the full judgment text of HCMP 1566/2012 on BabelCite. This High Court CFI judgment was delivered on 9 October 2012.
1. I have before me a Petition issued by the Company seeking the court sanction pursuant to section 59 of the Companies Ordinance of a reduction of its share capital. In this Decision I deal with one particular matter, the nature of which will become apparent in due course, on which I think guidance to practitioners is desirable. The purpose of the reduction of capital is two-fold. The first is to create a credit which can be used to eliminate the Company’s accumulated losses with the result tha
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