30 Nov 2007
CATDAVE INVESTMENTS LTD v. BARBICAN CAPITAL INVESTMENT LTD AND OTHERS
- Citation
- CATDAVE INVESTMENTS LTD v. BARBICAN CAPITAL INVESTMENT LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW444/2006
The court found insufficient credible evidence of the alleged binding shareholders agreement or of conduct so unfair or prejudicial as to justify winding-up or a buy-out. Barbican was held to be the beneficial owner of the properties; funds advanced by Mr Tsang were treated as shareholder loans. Failures to file returns and convene AGMs were breaches but remediable and caused no real prejudice to the petitioner. The petition was therefore dismissed.
- Winding-up (just and equitable)
- Buy-out order / unfair prejudice (s.168a)
- Beneficial ownership of company assets
- Directors' fiduciary duties
- Failure to convene meetings and file returns
- Loan transactions between related companies