21 Jan 2015
POON KA MAN JASON v. CHENG WAI TAO AND OTHERS
- Citation
- POON KA MAN JASON v. CHENG WAI TAO AND OTHERS
- Court
- Court of Appeal
- Case number
- CACV135/2013
The Court held that Ricky, as sole director, breached his fiduciary duties to Smart Wave by operating competing Itamae and Itacho restaurants without the assent of Smart Wave's shareholders; agreements among a different shareholder group (Ajisen Group) and vague assertions of ownership of marks did not absolve him; Smart Wave is entitled to seek equitable relief and should be given the option to pursue an account of profits or inquiry as to damages (subject to discretionary equitable defences), but the Court correctly limited recoverable profits/damages temporally to 2010 because Smart Wave c…