4 Sept 2023
MULTI-BEST ENTERPRISES LTD v. LUK FAI HOLDINGS COMPANY LTD AND OTHERS
- Citation
- [2023] HKCFI 2268
- Court
- Court of First Instance
- Case number
- HCMP909/2021
Court found respondent Simon misappropriated HK$31,096,354.23 from LFH subsidiaries and, on the evidential record and absence of defence, ordered he account for that sum; court held Asset Approach was the appropriate basis to value LFH and Criteria on a fair market value (willing buyer/willing seller) basis; ordered compound interest (HSBC prime +1% with quarterly rests) of HK$24,297,256 up to judgment to be included in valuation; directed full deduction of notional sale commissions and legal costs and a 50% deduction for contingent profits tax; directed SJE to compute revised market values a…