28 Aug 2019
VITALY ORLOV v. MAGNUS LEONARD ROTH AND ANOTHER
- Citation
- [2019] HKCFI 2120
- Court
- Court of First Instance
- Case number
- HCMP1331/2017
The court found sufficient unfairly prejudicial conduct by both shareholders in discrete respects (notably obstruction of alternate director access, withholding documents, interposition of a 'management' tier to exclude the co‑owner and orchestrated secret steps around Katla in late 2017) and that the appropriate remedy was a buyout order. Given the totality of facts and fairness considerations the court ordered Roth to buy out Orlov and fixed the valuation date at 1 January 2018; quasi‑interest was declined and costs reserved. The court held that derivative remedies do not oust unfair prejud…