4 Sept 2023
KUEN-FAI STEPHEN LUK v. CRITERIA HOLDINGS LTD AND OTHERS
- Citation
- [2023] HKCFI 2268
- Court
- Court of First Instance
- Case number
- HCMP302/2022
Court found on uncontested evidence that respondent Simon misappropriated HK$31,096,354.23; awarded compound interest on that sum up to judgment (HK$24,297,256) at HSBC prime+1% with quarterly rests and simple judgment rate thereafter; adopted the Asset Approach as the appropriate valuation method for LFH and Criteria; accepted SJE's reinstatement of 85% of the written-off Wah Hing inventories; ordered downward adjustments for full notional realisation costs (estate agents' commissions and legal expenses) and a 50% allowance for contingent profits tax; required LB purchasers to undertake paym…