5 May 1981
HIOE TJIEN TJIEN v. TJO TA CO LTD AND ANOTHER
- Citation
- HIOE TJIEN TJIEN v. TJO TA CO LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA2240/1981
Given the accounts to 31 December 1979, the nature of the business, the company's healthy profits and asset values which greatly exceed liabilities and issued capital, there was no real risk to creditors and no serious issue to be tried on whether the proceeds could be treated as available; absence of fraud and shareholder approval further undermined the plaintiff's case, so interlocutory relief was refused.