15 Apr 2004
KONG MOU HOLDINGS LTD v. CHEUNG SHUEN LUNG AND OTHERS
- Citation
- KONG MOU HOLDINGS LTD v. CHEUNG SHUEN LUNG AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW391/1999
The court held that CO ss.275 and 276 do not expressly limit a creditor to recovery of only its personal loss and, given that recoveries are held for the general body of creditors, a creditor applying under those sections may pursue the full amount of liability attributable to directors to benefit all creditors; however, exercising its discretion the court refused to vary the Mareva to require disclosure of further overseas assets because the existing frozen assets, on the valuations before the court, were sufficient to secure the Applicant's claim and any alleged shortfall was not significan…