22 Sept 2017
ZHANG HENG v. KINGSTONE INTERNATIONAL WEALTH MANAGEMENT LTD AND OTHERS
- Citation
- ZHANG HENG v. KINGSTONE INTERNATIONAL WEALTH MANAGEMENT LTD AND OTHERS
- Court
- Court of Appeal
- Case number
- CACV56/2017
The Court of Appeal found the judge below applied too narrow a test and erred in concluding no serious question to be tried; on the material available there was a prima facie real sensible possibility that Shum and Poon breached the no-conflict rule by diverting licensed business to Kingstone Advisors and that Kingstone Advisors benefited from such breaches; accordingly leave to bring a derivative action under Companies Ordinance ss732-733 was granted, subject to costs terms (applicant to bear initial costs with indemnity application adjourned).