19 Dec 1995
ACME DELIGHT LIMITED & OTHER v. THE OFFICIAL SOLICITOR appointed by the Order of Master Cheung dated the 2nd day of December 1993 to represent the estate of TAM CHUNG SHING (Deceased)
- Citation
- ACME DELIGHT LIMITED & OTHER v. THE OFFICIAL SOLICITOR appointed by the Order of Master Cheung dated the 2nd day of December 1993 to represent the estate of TAM CHUNG SHING (Deceased)
- Court
- Court of First Instance
- Case number
- HCA6501/1993
Court held that no part of the $7,500,000 loan had been repaid because no dividend was declared and the net profit for set-off must be distributable/accumulated profit as reflected in consolidated accounts; the price for the shares was par ($1 per share) and plaintiffs were entitled to the transfer of 7,500,000 shares as from 8 March 1993; plaintiffs also succeeded on the separate loan claims and were awarded judgments with interest and appropriate set-offs; Registrar appointed to execute transfers and costs ordered against the deceased's estate.