17 Oct 2003
CORE PACIFIC-YAMAICHI INTERNATIONAL (HK) LTD AND ANOTHER v. YUANTA SECURITIES ASIA FINANCIAL SERVICES LTD
- Citation
- CORE PACIFIC-YAMAICHI INTERNATIONAL (HK) LTD AND ANOTHER v. YUANTA SECURITIES ASIA FINANCIAL SERVICES LTD
- Court
- Court of First Instance
- Case number
- HCMP3231/2003
The court held that the Company, being a nominal party to a shareholder petition under ss.168A and 177(1)(f), should not take an active partisan role or expend corporate funds in opposing the petition unless it can discharge the heavy onus of showing necessity or expediency in the interests of the company as a whole; the Company failed on the material before the court to justify active participation or its arbitration argument at this interlocutory stage, and an injunction was granted restraining the Company from participating in the petition hearings without leave of the Court while other re…