21 Jan 2015
MA CHING YUK v. MA CHING NAM AND OTHERS
- Citation
- MA CHING YUK v. MA CHING NAM AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP3479/2013
The court found that s79G had been contravened in relation to HCL and that certain directors likely breached fiduciary duties, but declined to grant declaratory relief in respect of HCL because the remedy is discretionary and factors (applicant's conduct, absence of a claim for repayment, the company's ability to lawfully declare dividends if refunded, and likely shareholder approval) weighed against granting a declaration; in relation to HICL the applicant failed to establish a breach of fiduciary duty because the board had a plausible commercial justification and voting by corporate represe…