7 Feb 2014
LU JUN v. YU QI AND OTHERS
- Citation
- LU JUN v. YU QI AND OTHERS
- Court
- Court of Appeal
- Case number
- CACV76/2013
The Court of Appeal upheld the recorder: Mr Lu was the beneficial owner of the 15 shares and Madam Yu’s sequence of conduct (engineered loan assignment, threatened calls, rights issue, disposal of Shanghai Hanglong with deferred consideration and diversion of dividends) constituted unfairly prejudicial conduct justifying relief under s.168A; the appropriate remedy is a compulsory buy-out with valuation by reference to assets, profitability and future prospects as at the petition date, without a minority discount, on the assumptions that the complaints against Mr Lu were not made out and the s…