Hong Kong Case Law: Decisions & Judgments

Topic

Adjournment of egm

Legal area

Court

17 Jan 2025

SINO CENTURY HOLDINGS LTD AND OTHERS v. STRONG PETROCHEMICAL HOLDINGS LTD AND OTHERS

Citation

[2025] HKCFI 456
Court

Court of First Instance
Case number

HCMP66/2025

The court granted the interim injunction because the chairperson's adjournment was founded on an incorrect factual premise about voting entitlement (contradicted by the 3rd defendant's own BVI affirmation acknowledging no valid resolution could be passed by Forever Winner), creating a real risk the EGM would be further frustrated; the balance of convenience favoured permitting the EGM to proceed and restraining any purported exercise of the 49% voting bloc pending the BVI provisional liquidators' application or further order; leave to appeal was dismissed and no stay granted.
20 Feb 2017

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER

Citation

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER
Court

Court of First Instance
Case number

HCA939/2015

Given material indicating both the 1st defendant and prima facie a large number of plaintiffs opposed the proposed placement and because receivers are interim custodians whose function is to preserve the subject matter of litigation, the receivers were properly directed to exercise the voting rights attached to the CSI shares to seek an adjournment of the CSCG EGM to ascertain plaintiffs' positions and, failing adjournment, to vote against the resolutions; the 1st defendant's application for a direction to abstain was not made out.
20 Feb 2017

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER

Citation

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER
Court

Court of First Instance
Case number

HCA2191/2014

The court directed the receivers to seek a four-week adjournment of the CSCG EGM to ascertain plaintiffs' positions and, if adjournment could not be obtained, to vote the CSI shares against the placement resolutions because there was material indicating both the 1st defendant and prima facie a large number of plaintiffs opposed the placement and receivers exist to preserve the property and voting rights for those entitled; the court refused the 1st defendant's request to direct the receivers to abstain.

Hong Kong Case Law

SINO CENTURY HOLDINGS LTD AND OTHERS v. STRONG PETROCHEMICAL HOLDINGS LTD AND OTHERS

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER