RE LONG XI GROUP COMPANY LTD

RE LONG XI GROUP COMPANY LTD

HCMP 3360 was dismissed as academic because section 351A removed any risk of prosecution; HCMP 3361 was granted only insofar as extensions were required for years where prosecution remained possible (years ending 31 March 2010 to 31 March 2012); HCMP 3362 was granted in the terms of the originating summons.

Source-derived case information.

Citation
RE LONG XI GROUP COMPANY LTD
Parties
Company: Hang Fat Ginseng Hong Limited; Applicants: Applicants
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
14 March 2014
Case Number
HCMP3362/2013
Procedural Posture
Originating Summonses Under Companies Ordinance (cap 32) Sections 111 and 122 / Court Decision
Outcome
HCMP 3360 dismissed; HCMP 3361 extension granted only for years ending 31 March 2010 to 31 March 2012; HCMP 3362 granted in terms of the originating summons.
Legal Topics
Failure to Convene Annual General Meeting, Filing Audited Financial Statements, Extension of Time, Section 111, Section 122, Section 351 a
Source Language
en
Company Law Statutory Compliance Civil Procedure Failure to Convene Annual General Meeting Filing Audited Financial Statements Extension of Time Section 111 Section 122 +1 more

Source-derived case record

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Parties

Hang Fat Ginseng Hong Limited

Company

Applicants

Applicants

Procedural Posture

Originating Summonses Under Companies Ordinance (cap 32) Sections 111 and 122 / Court Decision

Legal Issues

  1. 1 Whether the court should exercise jurisdiction to grant relief under section 111(2) where breaches are time-barred by section 351A
  2. 2 Whether to grant extension of time under section 122(1)(b) for failures to file audited financial statements for specified years
  3. 3 Whether failures were inadvertent and caused prejudice to shareholders

Ratio Decidendi

HCMP 3360 was dismissed as academic because section 351A removed any risk of prosecution; HCMP 3361 was granted only insofar as extensions were required for years where prosecution remained possible (years ending 31 March 2010 to 31 March 2012); HCMP 3362 was granted in the terms of the originating summons.

Court Disposition

HCMP 3360 dismissed; HCMP 3361 extension granted only for years ending 31 March 2010 to 31 March 2012; HCMP 3362 granted in terms of the originating summons.

Orders

  • HCMP 3360: originating summons dismissed.
  • HCMP 3361: extension of time granted under section 122(1)(b) only for years ending 31 March 2010, 31 March 2011 and 31 March 2012.