27 Oct 2010
RE NTK TECHNOLOGY (HK) LTD
- Citation
- RE NTK TECHNOLOGY (HK) LTD
- Court
- Court of First Instance
- Case number
- HCCW528/2008
The court found that the trust and confidence between the parties had irretrievably broken down and that the transfer of the Companys business to an entity owned by the 3rd Respondent had unfairly prejudiced the petitioner. A winding‑up order was inappropriate; instead the court ordered that the 3rd Respondent purchase the petitioner’s shares. The court applied the valuation mechanism in the shareholders agreement (clause 5.2) and calculated the buy‑out sum, with interest from 1 April 2008, refused to admit late new evidence, and awarded costs to the petitioner on a party and party basis.