24 Feb 2022
AGRITRADE RESOURCES LIMITED THROUGH THE JOINT PROVISIONAL LIQUIDATORS NG KIAN KIAT, OON SU SUN AND E. ALEXANDER WHITTAKER AND ANOTHER v. ASHOK KUMAR SAHOO
- Citation
- [2022] HKCA 280
- Court
- Court of Appeal
- Case number
- CAMP224/2021
The Court refused leave to appeal because the Judge was entitled to find a good arguable case of unexplained misappropriation (US$5,060,000), clear evidence of self‑dealing in the CCDs and misapplication of US$2,450,000 in the Gupta Steel transaction, and a resulting real risk of dissipation; the alleged errors (reflective loss, fund‑flow interpretation, quantum, non‑disclosure, wife transfer, 2nd plaintiff standing) do not show a reasonable prospect of success or a basis to disturb the Judge's discretion.