Hong Kong Case Law: Decisions & Judgments

Topic

Declaration of dividend

Legal area

Court

30 Apr 2015

RE HONGKONG GOODSTAR ENTERPRISE LTD

Citation

RE HONGKONG GOODSTAR ENTERPRISE LTD
Court

Court of First Instance
Case number

HCCW53/2012

The respondent declared a dividend when the company lacked funds and, on the compelling inference that he did not intend to repay the company's receivable from himself, was insolvent on both cash-flow and balance-sheet bases; this conduct breached his fiduciary duties to creditors and constituted misfeasance under s276, warranting repayment of $2,170,000 plus interest.
14 Jun 2000

SPECIAL SONG LTD. (In Liquidation) v. LO SIU FAI LOUIS

Citation

SPECIAL SONG LTD. (In Liquidation) v. LO SIU FAI LOUIS
Court

Court of First Instance
Case number

HCCL57/1999

Summary judgment was refused because (1) there were substantial disputed facts on the critical issue of the defendant's knowledge of a tax liability that cannot be resolved summarily, (2) the statutory remedy under Companies Ordinance s.276 provides the proper single procedural route for misfeasance claims and should not be bypassed by an Order 14 application, and (3) the case centrally involves allegations of dishonesty which require full trial and are unsuitable for summary disposal.
20 Feb 1997

LAW SIU HONG ALBERT AND OTHERS v. CHEUNG KIN PING AND OTHERS

Citation

LAW SIU HONG ALBERT AND OTHERS v. CHEUNG KIN PING AND OTHERS
Court

Court of First Instance
Case number

HCCW103/1995

The court held that ordering the 1st and 2nd Respondents to purchase the Petitioners' shares was appropriate relief under s168A where mutual trust and management participation had broken down; valuation should be the same price paid for the 3rd and 4th Respondents (HK$6.67 per share, reflecting HK$300,150 paid for each of those shareholdings) and the Petitioners are entitled to repayment of their directors' loans as quantified in the audited ledgers; costs and interest from 30 October 1994 were to be borne by the 1st and 2nd Respondents and similar nisi orders were to issue against the 3rd an…

Hong Kong Case Law

RE HONGKONG GOODSTAR ENTERPRISE LTD

SPECIAL SONG LTD. (In Liquidation) v. LO SIU FAI LOUIS

LAW SIU HONG ALBERT AND OTHERS v. CHEUNG KIN PING AND OTHERS