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Hong Kong Leading Case class compositionconvening and sanctioncreditor classes

Re UDL Holdings Ltd (UDL Argos Engineering & Heavy Industries Co Ltd v Li Oi Lin)

(2001) 4 HKCFAR 358
JurisdictionHong Kong
CourtCourt of Final Appeal (Hong Kong SAR)
Year2001
StatusBinding authority

Key Principle

In a scheme of arrangement, creditors must be divided into classes by reference to the similarity or dissimilarity of their legal rights against the company; a class comprises those whose rights are not so dissimilar as to make it impossible for them to consult together with a view to their common interest.

Area of Law

Company, Insolvency & Banking

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