18 Dec 2024
CHEN CHIU-MAN v. KING MACHINERY (TAIWAN) CO LTD AND OTHERS
- Citation
- [2024] HKCFI 3640
- Court
- Court of First Instance
- Case number
- HCMP2214/2020
The court accepted the Taiwan High Court finding that the SinoKing Shares and related dividends are company assets and included them in the company valuation; it rejected inclusion of the 2017 ‘amount due from shareholders’ as an asset because that debt was not recoverable on the evidence; it preferred Mr Sham’s P/E comparables and Mr Xu’s DLOM methodology resulting in valuation of the Shijiazhuang Shares at RMB219,131,536 (P/E 16.94, DLOM 30%); it refused to award interest on the buy-out price; applying those determinations the court fixed the company equity value at RMB248,865,702 and the b…