21 Feb 2003
RE ASTROTECH INTERNATIONAL HOLDINGS LTD.
- Citation
- RE ASTROTECH INTERNATIONAL HOLDINGS LTD.
- Court
- Court of First Instance
- Case number
- HCCW816/2002
The court held that petitioners had established a good prima facie case on the conflict-of-interest sale of the OEM business, unjustified refusal to provide information and suspicious dissipation of cash (including questionable dividend policymaking), and that those matters justified immediate independent intervention; accordingly it was just and convenient to appoint provisional liquidators to protect AIH's assets and investigate the transactions pending the substantive hearing.