28 Apr 2017
HONG KONG AGRICULTURAL SPECIAL ZONE LTD v. CHOI CHI WAI
- Citation
- HONG KONG AGRICULTURAL SPECIAL ZONE LTD v. CHOI CHI WAI
- Court
- Court of First Instance
- Case number
- HCA1441/2012
The court found the Company to be a quasi‑partnership formed and continued on the basis of mutual trust and understood equality of management; Cheng and Lee acted unfairly and prejudicially by excluding Choi contrary to the oral agreement and signed shareholders' agreement, by misusing company funds (initiating unnecessary company actions) and by appointing and permitting overpayment to the Management Company; the Management Agreement was voidable and repayment of sums and adjustments to valuation and personal costs orders were appropriate; the proper remedy is a share purchase order (clean b…