100
HUUSE GUVERNMENT
HUNG KUNG
91 11-21 11:53
w
4
PHGE 06
monenS to the difficulties of the BCCI Group of Companies,
WHILECOIUEQ llapilities have SO far come to light in
relation to BCCHK and BCCFI.
6.
It is
envisaged, if the approval of this
nunouraple Court to the signing of the Further Heads of
Agreement is given, that -
(2)
ત
more detalled legally binding Provisional
Agreement will be prepared and entered into
between the Official Receiver and HKCB subject
το the further approval of the Court for the
transfer of the assets and liabilities comprising the banking business of BCCHK and BCCFI
and BCCFI to HKCB
as a going concern, and
detailed particulars of the arrangement referred LU in paragrapл 3 above will be prepared for
submission to the depositors as a scheme under
section 166 of the Companies Ordinance.
When the scheme document referred to in paragraph
ADOVE 15 available a further application will be
made by way of Summons to this Honourable Court for orders
under section 166 to convene a a meeting of depositors with aggregate unencumbered balances in excess of $100,000. Depositors for less than that amount, of which there are
some 30,000, will not need to be consulted since, under
LIC Soleme, they would be paid in full and would therefore
stand to gain more under the
1
scheme than under a
No comments yet.
Private notes are available after approval.