25 Mar 2003
RE INTERNATIONAL CAPITAL NETWORK HOLDINGS LTD
- Citation
- RE INTERNATIONAL CAPITAL NETWORK HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCCW898/2002
The court held that the petitioner established a good prima facie case for winding up based on serious prima facie misconduct by controlling management: exclusion of shareholder votes at general meetings on a contested legal basis, apparent depletion and non-disclosure of significant company funds, and prima facie breaches of the Takeovers Code and listing rules. Given urgency, investigations by regulators, resignations and risk to company assets and shareholder interests, it was just and convenient to appoint provisional liquidators to safeguard assets and investigate. The application was al…