31 Jan 2018
張才奎所託管中國山水投資有限公司股份相關員工 AND OTHERS v. 張才奎 AND ANOTHER
- Citation
- [2018] HKCFI 194
- Court
- Court of First Instance
- Case number
- HCA1766/2014
The receivership was discharged insofar as necessary because there had been a highly material change of circumstances and non‑disclosure of material facts: a large majority of plaintiffs had contracted to sell and been paid for their beneficial interests (thereby removing the primary beneficiaries the receivership was meant to protect), the purchase funds originated from an interested party (Tianrui), and material facts were not disclosed to the court when critical directions were given; accordingly the original justification for the receivership no longer existed and the court should dischar…