31 Mar 2021
KWOK HIU KWAN v. CONVOY GLOBAL HOLDINGS LTD AND OTHERS
- Citation
- [2021] HKCFI 814
- Court
- Court of First Instance
- Case number
- HCMP2151/2020
Although the applicant established serious issues to be tried on various alleged breaches, the court exercised its discretion under s 733 and refused leave because it was not in the best interests of the company to permit the proposed derivative action: the pleaded claims lacked realistic prospect of yielding tangible financial or practical benefit, risked duplicative and unmanaged parallel proceedings, some relief had become otiose after recent corporate events, and unresolved legal and public policy issues (including enforceability of Article 164(2)) and potential privilege/conflict problem…