19 Dec 1995
STARLIGHT ELECTRONICS COMPANY LIMITED v. THE OFFICIAL SOLICITOR appointed by the Order of Master Cheung dated the 2nd day of December 1993 to represent the estate of TAM CHUNG SHING (Deceased)
- Citation
- STARLIGHT ELECTRONICS COMPANY LIMITED v. THE OFFICIAL SOLICITOR appointed by the Order of Master Cheung dated the 2nd day of December 1993 to represent the estate of TAM CHUNG SHING (Deceased)
- Court
- Court of First Instance
- Case number
- HCA6502/1993
The court held that (1) the deceased ceased to be managing director on 8 March 1993 which triggered clause 4(5) and deemed notice to sell; (2) no part of the $7.5m loan had been repaid because no declared dividend had been made and the proviso to clause 3(2) did not operate; (3) the share price was par ($1 per share) given the auditor's valuation methodology; (4) plaintiffs ACDL and ACLL are beneficial owners of the 7,500,000 shares as of 8 March 1993 and the Registrar is appointed to execute necessary transfers on behalf of the deceased's estate; (5) plaintiffs SECL and KEL are entitled to j…