12 Dec 2014
LAU TIN CHEUNG v. TIANJIN DEVELOPMENT HOLDINGS LTD
- Citation
- LAU TIN CHEUNG v. TIANJIN DEVELOPMENT HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCA422/2011
Clause 8 created an express contractual obligation to grant the plaintiff 600,000 share options upon completion of the three month probation; the Share Option Scheme governed procedural matters but was not incorporated so as to leave substantive discretion to refuse grant. The defendant breached that obligation by withholding the grant and plaintiff proved loss; damages assessed by reference to market price on termination date (29 Nov 2010) less the proper subscription price ($2.44) produced an award of $2,046,000 plus interest and costs nisi.