Hong Kong Case Law: Decisions & Judgments

Topic

Gem listing rules

Legal area

Court

28 Sept 2017

ACROPOLIS LIMITED suing on behalf of itself and all other shareholders in AESO HOLDING LTD AND ANOTHER v. W&Q INVESTMENT LTD AND OTHERS

Citation

ACROPOLIS LIMITED suing on behalf of itself and all other shareholders in AESO HOLDING LTD AND ANOTHER v. W&Q INVESTMENT LTD AND OTHERS
Court

Court of First Instance
Case number

HCA1496/2017

Leave to appeal was refused because the applicants failed to show a reasonable prospect of success or any other reason in the interests of justice; the judge correctly found a serious issue to be tried and appropriately assessed inadequacy of damages and balance of convenience in the context of a derivative action alleging potential fraud against the company and shareholders.
29 Jan 2015

LIM YI SHENN v. WONG YUEN YEE AND OTHERS

Citation

LIM YI SHENN v. WONG YUEN YEE AND OTHERS
Court

Court of First Instance
Case number

HCA1323/2010

The plaintiff's claim was dismissed because the GVM was a forward‑looking business plan with disclaimers and, given the plaintiff's sophistication and the placing letter, he was not entitled to rely on it as actionable representations; no evidence supported the alleged contractual terms or that defendants agreed to hold HK$10,000,000 on a specific purpose trust; directors had not assumed personal contractual liability; plaintiff's evidence was inconsistent and inherently improbable; accordingly dismissal with costs was ordered.
25 Mar 2003

RE INTERNATIONAL CAPITAL NETWORK HOLDINGS LTD

Citation

RE INTERNATIONAL CAPITAL NETWORK HOLDINGS LTD
Court

Court of First Instance
Case number

HCCW898/2002

The court held that the petitioner established a good prima facie case for winding up based on serious prima facie misconduct by controlling management: exclusion of shareholder votes at general meetings on a contested legal basis, apparent depletion and non-disclosure of significant company funds, and prima facie breaches of the Takeovers Code and listing rules. Given urgency, investigations by regulators, resignations and risk to company assets and shareholder interests, it was just and convenient to appoint provisional liquidators to safeguard assets and investigate. The application was al…

Hong Kong Case Law

ACROPOLIS LIMITED suing on behalf of itself and all other shareholders in AESO HOLDING LTD AND ANOTHER v. W&Q INVESTMENT LTD AND OTHERS

LIM YI SHENN v. WONG YUEN YEE AND OTHERS

RE INTERNATIONAL CAPITAL NETWORK HOLDINGS LTD