21 Jul 1999
AIG ASIA DIRECT INVESTMENT FUND LTD AND OTHERS v. NGAI WAI LUN, WILLIAM AND ANOTHER
- Citation
- AIG ASIA DIRECT INVESTMENT FUND LTD AND OTHERS v. NGAI WAI LUN, WILLIAM AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCCL31/1998
The court refused to vary the maximum sum because the plaintiffs produced evidence of recent market transactions supporting a US$8.5m valuation for the 10% shareholding and the existing maximum of US$6.5m was appropriate; the court ordered limited discovery by affidavit of assets up to US$6.5m within 14 days and rejected the defendants' offer to provide shares as security as inadequate at this stage.