16 Nov 2007
TSE CHIU KWAN AND ANOTHER v. ARTINI INTERNATIONAL CO LTD
- Citation
- TSE CHIU KWAN AND ANOTHER v. ARTINI INTERNATIONAL CO LTD
- Court
- Court of First Instance
- Case number
- HCMP2065/2007
The court exercised its discretion under section 122(1B) to substitute the AGM laying requirement and permit accounts to be laid beyond nine months because the breaches were bona fide, caused by reliance on professional advisers and restructuring, the companies were wholly owned so no shareholder prejudice, accounts were ultimately laid and corrective measures (new auditors) were taken; accordingly the originating summonses were granted to regularise the irregularities.