5 Aug 2002
CAPITAL ACE HOLDINGS LTD AND ANOTHER v. INTERNATIONAL CAPITAL NETWORK HOLDINGS LTD AND OTHERS
- Citation
- CAPITAL ACE HOLDINGS LTD AND ANOTHER v. INTERNATIONAL CAPITAL NETWORK HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA2066/2002
The court discharged the ex parte injunction: it found the evidence of directors' improper motive insufficient to establish a serious issue to be tried on the balance of probabilities and, alternatively, that the balance of convenience and regulatory safeguards favoured permitting the board to exercise its management powers; allegations of impropriety were compelling but unproven and must be resolved at trial, which the court certified for expedition.