20 Oct 2023
CHU KONG (suing on behalf of himself and all other shareholders in (i) Ocean Sino Limited (except LAU WING YAN) and (ii) PBM Asset Management Limited) v. LAU WING YAN AND OTHERS
- Citation
- [2023] HKCFI 2703
- Court
- Court of First Instance
- Case number
- HCA1885/2021
The amended statement of claim discloses no reasonable cause of action and is liable to be struck out because (1) PBM is effectively under the control of court-appointed liquidators and not wrongdoers so derivative relief is not available; (2) the pleaded complaints substantially repeat and attack issues already finally determined by prior BVI and Hong Kong judgments and are therefore barred by issue estoppel and constitute an abuse of process/collateral attack; and (3) the claim is frivolous or vexatious and lacks proper evidential foundation. Accordingly the claim (and the application to re…