17 Oct 2019
SINGASIA HOLDINGS LTD v. 劉新生
- Citation
- [2019] HKCFI 2555
- Court
- Court of First Instance
- Case number
- HCCW257/2019
The court found on the evidence that the Company was solvent and that the proposed allotment and transfers would preserve or enlarge assets for creditors; accordingly it granted validation for all transfers of fully paid shares since 28 August 2019, validated the proposed allotment of 250,000,000 shares for HK$13,000,000, validated payment of solicitors' fees up to specified caps (HK$150,000 for the allotment and HK$100,000 for litigation/advice) and validated ordinary business expenses as pleaded, but refused validation for forensic accounting fees because the necessity could not be assessed…