23 Nov 2023
SHIH-HUA INVESTMENT CO LTD v. ZHANG AIDONG AND OTHERS
- Citation
- [2023] HKCA 1304
- Court
- Court of Appeal
- Case number
- CACV370/2023
The Court of Appeal concluded Harris J did not err: with the benefit of hindsight the Reconstitution Order was wrongly granted in circumstances where Shih-Hua failed to provide the indemnity and adequate funding it had undertaken, independent directors and liquidators could not substantiate the alleged claims, and there was credible evidence (including ledgers) raising an arguable case of loss such that an inquiry as to damages under the cross-undertaking was justified; leave to appeal was unnecessary and the appeal was dismissed.