2 Aug 1996
SECURITIES AND FUTURES COMMISSION v. MANDARIN RESOURCES CORPORATION LTD. and Another
- Citation
- SECURITIES AND FUTURES COMMISSION v. MANDARIN RESOURCES CORPORATION LTD. and Another
- Court
- Court of First Instance
- Case number
- HCCW348/1996
The original ex parte order appointing provisional liquidators was discharged because the founding affidavit contained a material mis‑statement in breach of the uberrimae fidei duty; however, on a de novo consideration of the public interest and evidence the court reappointed provisional liquidators because the allegations of serious connected transactions, conflict of interest, risk of major asset removal via a requisitioned shareholder meeting and recent attempts to buy minority holdings created a real risk of prejudice to minority shareholders and the public that outweighed the companys so…