Court orders UDL to disclose 76pc backing for adjournment

PUBLISHED : Wednesday, 13 January, 1999, 12:00am
UPDATED : Wednesday, 13 January, 1999, 12:00am


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Cash-strapped UDL Holdings said it and two wholly owned subsidiaries were involved in three winding-up petitions from three parties. In the petition filed by HSBC, the company was ordered to disclose the 76.98 per cent of the support for adjournment by January 18. UDL on Monday claimed 76.98 per cent of creditors backed a scheme of arrangement which could save the firm from liquidation.