9 May 2012
VERON INTERNATIONAL LTD v. RCG HOLDINGS LTD
- Citation
- VERON INTERNATIONAL LTD v. RCG HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCMP343/2011
The court found the plaintiff did not establish a case for investigation; the prospectus and public disclosures provided substantial, specific information about the Vast Base and Strong Aim transactions (including independent valuations and due diligence material) which undermined the reliability of the tabloid article and investigators' report; therefore the statutory thresholds of good faith and proper purpose under s152FA were not satisfied and the application for inspection was dismissed.