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Legal Update

Shareholders’ Disputes, Windings-up of Solvent Companies and Section 182 Dispositions

21 February 2014
Mayer Brown Legal Update

Did you know that dispositions of property of a solvent company made after the commencement of a winding-up will unlikely be disturbed unless it can be demonstrated that the disposition is not in the interests of the company?

Two recent decisions, handed down in the context of shareholder disputes, highlight the atypical application of section 182, Companies Ordinance (Cap 32)(CO) to solvent companies. For another atypical application of the CO, see our recent Legal Update "Major Shareholder Obtains Relief Pursuant to Section 168A" of 20 December 2013.

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