10 Jun 2005
CHAN CHEUNG SUK CHUN v. POON SHU PANG AND OTHERS
- Citation
- CHAN CHEUNG SUK CHUN v. POON SHU PANG AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW619/2000
The court found on credibility and documentary evidence that Mr Yung (as de facto controller) together with Mr Poon and associated persons caused the businesses of Geewing and V&T to be transferred to DSD and DSM at substantial undervalue, thereby breaching fiduciary duties; DSD and DSM (through their directors) were knowing recipients; therefore winding up of Geewing and V&T on just and equitable grounds was justified and the responsible defendants must account to the companies for the assessed value of the misappropriated businesses (HKD 3,617,000 for Geewing; HKD 7,363,000 for V&T), with c…