12 Aug 2009
TSANG WAI LUN WAYLAND AND ANOTHER v. CHU KING FAI AND OTHERS
- Citation
- TSANG WAI LUN WAYLAND AND ANOTHER v. CHU KING FAI AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA300/2009
The SGM appointments of the eight nominated individuals on 2 December 2008 were valid under the bye‑laws (company in general meeting may appoint additional directors and such appointment can imply an increase in the prior maximum); the board appointments of five individuals on 27 November 2008 were invalid and are set aside because the predominant purpose was to prevent shareholders exercising their contractual right under Art.114 and thus amounted to an abuse of fiduciary power; the challenged share option grants were valid and within the board's management powers.