22 Jan 2014
CHEN FANGLIN v. ALLEN INTERNATIONAL HOLDINGS LTD
- Citation
- CHEN FANGLIN v. ALLEN INTERNATIONAL HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCMP2175/2013
The court exercised its s122(1B) discretion to regularise past non-compliance because the breach was inadvertent (reliance on secretarial professionals and no Hong Kong operations), the ultimate shareholders were aware and not prejudiced, consolidated audited accounts giving a true and fair view were produced, and the company provided concrete steps and undertakings to ensure future compliance and notification to the Stock Exchange, therefore an order regularising the failure to lay accounts was appropriate.