6 Feb 2008
SEG INVESTMENT LTD v. SEG INTERNATIONAL SECURITIES (HK) LTD AND OTHERS
- Citation
- SEG INVESTMENT LTD v. SEG INTERNATIONAL SECURITIES (HK) LTD AND OTHERS
- Court
- Court of Appeal
- Case number
- CACV382/2005
The purported board resolution of 28 August 2003 was invalid because the written notice failed to give adequate notice that a Section 228A winding up would be considered and the statutory prerequisites of Section 228A were not satisfied (in particular no attempt to procure voluntary winding up and other winding up routes were reasonably practicable); the directors acted with improper motive to pre-empt an extraordinary general meeting; accordingly the appeal is dismissed and the declaration below that the resolution is null, void and invalid is upheld.