Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Director/shareholder deadlock

Legal area

Court

15 Jul 2013

LEE CHI YUEN ARCTIC v. YUANZHI INTERNATIONAL TRADING CO LTD

Citation

LEE CHI YUEN ARCTIC v. YUANZHI INTERNATIONAL TRADING CO LTD
Court

Court of First Instance
Case number

HCMP1654/2013

The court granted leave because the statutory requirements of s168BC(1) and (3) were satisfied: on the evidence there was a director/shareholder deadlock preventing the Company from defending, the applicant showed arguable defences so it was prima facie in the Company's interests to defend both actions, and the applicant had complied with the s168BD written notice requirement.
21 Dec 2007

YUENG MAN LOONG MAXLY AND ANOTHER v. TSANG SAU HING BEATRICE AND OTHERS

Citation

YUENG MAN LOONG MAXLY AND ANOTHER v. TSANG SAU HING BEATRICE AND OTHERS
Court

Court of First Instance
Case number

HCCW132/2007

The court found there was a complete breakdown of trust and an irretrievable deadlock between the families in relation to the four companies; the Yeungs were substantially to blame for the deadlock; the accounting and bank‑account complaints did not establish unfairly prejudicial conduct warranting a buy‑out under s168A; accordingly the petitions by the Tsangs for winding up were granted and the Yeungs' cross‑petitions dismissed.