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KUALA LUMPUR (Jan 7): The High Court in Melaka has approved the scheme of arrangement between MDSA Ventures Sdn Bhd a subsidiary of Singapore-listed Hatten Land Ltd, and its creditors.
Judicial Commissioner Maidzura Mohammed granted a sanction order to the company, after being told that the scheme was approved by 96% of the total value of the creditors present and voting in person or by proxy at a creditors’ meeting on Dec 18.
“The court grants the sanction order to approve the proposed scheme of arrangement and the debt restructuring of MDSA Ventures,” the court ruled yesterday.
Counsel Lee Shih of Lim Chee Wee Partnership appeared for MDSA Ventures.