12 Nov 2013
LEUNG CHUN WAH v. ARRAY ELECTRONICS LTD
- Citation
- LEUNG CHUN WAH v. ARRAY ELECTRONICS LTD
- Court
- Court of First Instance
- Case number
- HCMP1500/2013
The court granted relief under s111 and s122 because, on the evidence, the relevant defaults were predominantly inadvertent (including a specific valid auditor-related reason for the 2007 defaults), affected shareholders were or could be inferred to be aware of the companies' financial positions and not prejudiced, and adequate steps had been taken to ensure future compliance; accordingly the discretionary relief to regularise past non-compliance was appropriate to remove impediments to the proposed listing.