28 Oct 2013
BEST FUTURE WORLDWIDE LTD v. EASY LARGE LTD
- Citation
- BEST FUTURE WORLDWIDE LTD v. EASY LARGE LTD
- Court
- Court of First Instance
- Case number
- HCMP1452/2013
The court refused to exercise its discretionary power because the evidence did not show inadvertence or an adequate explanation for widespread, uniform failures across eleven subsidiaries; the breaches were more consistent with indifference or an intention to avoid the costs/obligations of audited accounts, shareholders were not shown to be unaware or unprejudiced in a way that justified retrospective regularisation, and the prospect of a listing alone did not outweigh these considerations.