11 May 2009
RE PCCW LTD
- Citation
- RE PCCW LTD
- Court
- Court of Appeal
- Case number
- CACV85/2009
The Court of Appeal allowed the SFC appeal, holding that where there is evidence that a substantial number of votes in favour were obtained by share‑splitting or other forms of vote manipulation the court cannot be satisfied that the statutory majority fairly represented the class; the court must and may disregard or discount such votes when exercising its discretion under s.166, and on the facts here (significant manipulation and weak commercial rationale) the scheme sanction must be refused.