23 Jul 2015
張才奎所託管中國山水投資有限公司股份AND ANOTHER v. 張才奎AND ANOTHER
- Citation
- 張才奎所託管中國山水投資有限公司股份AND ANOTHER v. 張才奎AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA1564/2015
The court refused to direct the receivers to vote so as to reconstitute the board of the listed company or to approve the receivers' proposed primary or alternative voting plans because (1) interlocutory orders that would change the management of a listed company are exceptional and not justified here, (2) there are contested factual issues and no overwhelming case, (3) the receivers must act impartially and within the scope of their appointment to 'hold the ring', and (4) split voting cannot be directed because the CSI articles vest voting powers in its board. Accordingly the application for…