16 Dec 2011
LU JUN v. YU QI AND OTHERS
- Citation
- LU JUN v. YU QI AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW282/2010
Validation was granted in part: dividends and management fees may be used to repay the cash components of shareholder loans and to meet past and reasonable future ordinary business expenses subject to withholding 15% and reporting; validation for the proposed repurchase of Shanghai Hanglong was declined as unnecessary; appointment of provisional liquidators and interim receivers was declined because petitioner did not establish a prima facie case that winding up is likely, the company is solvent, preservation orders exist and trial is imminent.