27 Jan 2015
LU JUN v. YU QI AND OTHERS
- Citation
- LU JUN v. YU QI AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW377/2014
Provisional liquidators were appointed because exceptional circumstances existed: the Heathcliff transaction and registered/unregistered charges presented a real risk of denuding the company and defeating the crystallised but unpaid buyout order, the voluntary winding up had been stayed so control reverted to directors, and it was reasonably arguable the petitioner retained an arguable tangible interest and right to pursue winding up; appointment was not irreversible and therefore did not mandate immediate election of remedies.