8 Oct 1998
HWANG DA-LIN v. WONG CHING MAN AND OTHERS
- Citation
- HWANG DA-LIN v. WONG CHING MAN AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW425/1995
The court found on the evidence that the majority misapplied TLI funds to benefit family controlled Sea Giant (creating almost HK$10.9m indebtedness and substantial interest), mismanaged TLI (cash rental irregularities, continued unlawful advances, usurpation of director powers and withholding dividends), conduct which objectively amounted to unfairly prejudicial conduct under s.168A; accordingly s.168A relief was granted ordering a buy‑out with valuation at the petition date (adjusted to eliminate effects of the oppressive conduct), interest at 10% p.a. from the petition date, directions for…