Hong Kong Case Law: Decisions & Judgments

Topic

Buy-out valuation

Legal area

Court

12 May 2026

ELECTRONIC CONTROL TECHNOLOGY LTD (suing on behalf of itself as a shareholder in COBO ASIA LTD) v, WOLFANGO COZZI AND OTHERS

Citation

[2026] HKCFI 2696
Court

Court of First Instance
Case number

HCA1524/2022

The court found that Resolution 1 (26 October 2020) cutting the Company out of the supply chain for the identified Family Products constituted a breach of fiduciary duty by the controlling directors and was unfairly prejudicial to the Company; a buy-out order for ECT\u2019s 40% shareholding was appropriate; other major allegations (further diversion post-February 2021, competing business, most contract claims) were dismissed because either justified by operational exigencies (Premises closure), unpleaded, not attributable to Liang/ECT or contractual restraints were unenforceable (NCA/Art 8.1)…
29 Dec 2017

DENNIS KWOK HON MING v. POON SUI CHEONG ALBERT AND OTHERS

Citation

DENNIS KWOK HON MING v. POON SUI CHEONG ALBERT AND OTHERS
Court

Court of First Instance
Case number

HCMP1526/2013

The Valuer was appointed as a single joint expert by consent under Order 38 rule 4A and not as a court-appointed expert; leave to adduce the Cullen Report is permitted in principle because Cullen articulates a substantial opposing valuation, but admission is subject to conditions: all experts must be provided with the same factual materials, the KTA annex must be removed from Cullen's report, the Petitioner may be permitted to adduce a JPA report with appropriate instructions and the same materials, an experts' meeting and joint report must be conducted after all permitted reports are served,…
29 Dec 2017

DENNIS KWOK HON MING v. POON SUI CHEONG ALBERT AND OTHERS

Citation

DENNIS KWOK HON MING v. POON SUI CHEONG ALBERT AND OTHERS
Court

Court of First Instance
Case number

HCMP1527/2013

The Valuer was appointed by party consent under Order 38 rule 4A and not as a court‑appointed expert under Order 40; leave in principle is granted to admit the Cullen Report subject to conditions that (a) petitioner is given reciprocal opportunity to adduce a valuation report from an appropriately instructed expert, (b) all experts (Valuer, Cullen and petitioner’s expert) be provided identical factual materials relating to the Land, (c) the Cullen Report be amended to remove reliance on the KTA annex, and (d) an experts' meeting and joint report be conducted before the court decides whether t…
21 Feb 2017

DENNIS KWOK HON MING v. POON SUI CHEONG ALBERT AND OTHERS

Citation

DENNIS KWOK HON MING v. POON SUI CHEONG ALBERT AND OTHERS
Court

Court of First Instance
Case number

HCMP1527/2013

Majority Shareholders are jointly and severally liable to buy out the petitioner’s shares as ordered in the earlier judgment; valuation is to be conducted on a going concern basis with valuers able to assess development potential and relevant liabilities; costs of valuation and transfer (including stamp duty) are to be borne by the Majority Shareholders; managers' bonus does not continue after manager/shareholder status ceases; specified cash sums must be repaid or released with interest; no additional oral hearing or unspecified evidence is required before issuing final directions, and the p…
19 Feb 2016

CHAN LUEN YAN AND OTHERS v. CHAN TIN CHAI AND OTHERS

Citation

CHAN LUEN YAN AND OTHERS v. CHAN TIN CHAI AND OTHERS
Court

Court of Appeal
Case number

CACV161/2013

The Court of Appeal dismissed the petitioners' appeal because the independently appointed valuer's revised NAV and per‑share valuation were reasonable and within instructions, there was no demonstrable patent error in the valuer's methodology, the judge correctly applied the agreed contractual terms and audited accounts (including using contractual rent and the 2.5% agreed interest), the impairment and write‑down of the investment were justified by CLC Ltd's audited deficits, there was no evidential basis to quantify any goodwill, and no basis existed to order repayment of shareholder loans i…
2 Aug 2013

LU JUN v. YU QI AND OTHERS

Citation

LU JUN v. YU QI AND OTHERS
Court

Court of First Instance
Case number

HCCW282/2010

The application for interim receivers was dismissed because it was premature and misconceived: the independent valuer had been appointed and there was no evidence of incapacity or lack of documents; the buy-out obligation rested on the 1st and 3rd respondents who were not shown to be unable to pay; the valuation date was already fixed; alleged asset dissipation was not pursued; and receivership is a draconian remedy unjustified on the facts.
29 Jan 1991

DEACON TE-KEN CHIU v. RONALD LI-KAI CHU AND OTHERS

Citation

DEACON TE-KEN CHIU v. RONALD LI-KAI CHU AND OTHERS
Court

Court of First Instance
Case number

HCMP1071/1990

The petition discloses a reasonable cause of action for unfairly prejudicial conduct and the contested factual allegations are not plainly unsustainable on the evidence before the court; although the petitioner should ordinarily have used the articles' buy-out mechanism for valuation, it is not plain and obvious on the affidavit evidence that the petitioner is the party who should be bought out; accordingly the strike-out application must be refused and the petition proceeds to full hearing.

Hong Kong Case Law

ELECTRONIC CONTROL TECHNOLOGY LTD (suing on behalf of itself as a shareholder in COBO ASIA LTD) v, WOLFANGO COZZI AND OTHERS

DENNIS KWOK HON MING v. POON SUI CHEONG ALBERT AND OTHERS

DENNIS KWOK HON MING v. POON SUI CHEONG ALBERT AND OTHERS

DENNIS KWOK HON MING v. POON SUI CHEONG ALBERT AND OTHERS

CHAN LUEN YAN AND OTHERS v. CHAN TIN CHAI AND OTHERS

LU JUN v. YU QI AND OTHERS

DEACON TE-KEN CHIU v. RONALD LI-KAI CHU AND OTHERS