21 Mar 2013
DRAGONRIDER OPPORTUNITY FUND LP v. LAM FUNG AND ANOTHER
- Citation
- DRAGONRIDER OPPORTUNITY FUND LP v. LAM FUNG AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP839/2012
The court held that Dragonrider had authority to issue the Dragonrider put option notice (including by express authorisation and capable subsequent ratification), that the notice validly and objectively notified exercise of put rights in respect of each investor's block of shares (the notice was severable rather than an indivisible block), and that prior notices by SIG and Stark Moly did not invalidate or 'spend' those investors' rights so as to defeat the Dragonrider notice; accordingly Mr Lam breached the Agreement by failing to complete, an event of default occurred under the Share Charge,…