2 Sept 2014
RALOTTE INVESTMENTS LTD v. THE BAUHINIA LTD AND OTHERS
- Citation
- RALOTTE INVESTMENTS LTD v. THE BAUHINIA LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP3388/2013
Although the statutory criteria for leave under s168BC were met (good faith, reasonable grounds, notice, company able to meet costs and serious question to be tried), the leave application was unnecessary because the applicant failed to invoke available constitutional procedures (board/shareholders meetings) to require the company to sue; once the company convened an EGM and took over negotiation and settlement (24 February 2014), the applicant should have given way; accordingly the applicant must withdraw the originating summons and bear the respondents' costs, including reimbursement of HK$…