21 Jan 2015
MA CHING YUK v. MA CHING NAM AND OTHERS
- Citation
- MA CHING YUK v. MA CHING NAM AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP3478/2013
The court accepted that s79G had been contravened in relation to HCL and that, on the facts, certain directors had breached fiduciary duties; however the court exercised its discretion under Order 15 r 16 and refused to grant the declaratory relief sought in respect of HCL because the remedy was unnecessary and inappropriate in the circumstances (the company could lawfully declare dividends if refunded, shareholders were likely to approve a fresh resolution, and the applicant had not objected at the time). In respect of HICL the court found no established breach of fiduciary duty and dismisse…