18 Dec 2013
WADDINGTON LTD v. CHAN CHUN HOO THOMAS AND OTHERS
- Citation
- WADDINGTON LTD v. CHAN CHUN HOO THOMAS AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA3291/2003
On the facts the Recorder found on the balance of probabilities that Thomas, who controlled the group, caused Profit Point to sell its Prestige shares to facilitate a concerted transaction (the Yugang Agreement) and thereby breached fiduciary duties owed to Profit Point and its holding companies; the court held that BVI BC Act s184C does not, on proper construction and persuasive English authority, abrogate the common law multiple derivative action; Waddington failed to prove allegations against Chansam; damages for Profit Point were quantified and awarded.