9 Mar 2017
BASAB INC. AND ANOTHER v. SUPERB GLORY HOLDINGS LTD AND OTHERS
- Citation
- BASAB INC. AND ANOTHER v. SUPERB GLORY HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA6/2014
The claims against the receivers were struck out because, as a matter of substance, the plaintiffs' alleged loss was merely reflective of Accufit’s loss arising from the sale at undervalue; the no reflective loss principle therefore barred the plaintiffs' claims including the pleaded conspiracy and equitable compensation claims, and the injunction claim was unnecessary following the BVI refusals of derivative leave.