30 Apr 2014
CHEN HA PING HEPBURN also known as CHEN HA PING AND ANOTHER v. LOONG SAN INVESTMENT COMPANY LTD AND ANOTHER
- Citation
- CHEN HA PING HEPBURN also known as CHEN HA PING AND ANOTHER v. LOONG SAN INVESTMENT COMPANY LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP1380/2013
The court granted leave under s168BC for derivative actions in respect of the misappropriation (HK$11,375,108) against Daniel on behalf of LS and LW because Daniel was in possession of company funds, no valid defence of beneficial entitlement or board-authorised set-off was made out, and his evidence was opaque; the dividends dispute was resolved by Daniel's undertaking and required no substantive order; the Loans issue was withdrawn from determination because the beneficial ownership dispute was the subject of separate proceedings (TK's action) and the court declined to displace entries in c…