30 Jan 2014
SHUM CHIU HUNG AND ANOTHER v. PROFIT CITY INVESTMENT LTD
- Citation
- SHUM CHIU HUNG AND ANOTHER v. PROFIT CITY INVESTMENT LTD
- Court
- Court of First Instance
- Case number
- HCMP2302/2013
The applications for retrospective extensions under s122(1B) were refused because the defaults involved prolonged failure to prepare and audit accounts until a listing due diligence, the applicants failed to provide convincing evidence of reasonable reliance on auditors or company secretaries, the applications appeared to serve mainly to relieve directors of potential criminal liability and no sufficient legitimate purpose or compelling justification for retrospective relief was established.