Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Extension of time for audited accounts

Legal area

Court

7 Mar 2014

NG WING HONG v. BAGUIO WASTE MANAGEMENT & RECYCLING LTD

Citation

NG WING HONG v. BAGUIO WASTE MANAGEMENT & RECYCLING LTD
Court

Court of First Instance
Case number

HCMP3384/2013

Orders under section 122 were to be granted only for breaches falling within the three‑year prosecution limitation in s351A(1); applications in respect of breaches which pre‑date that limitation (including the s111 applications going back beyond three years) should be refused because they are effectively academic and there is no realistic risk of prosecution or prejudice to listing.
4 Oct 2013

NEWGLAD INVESTMENTS LTD v. WORLD SYSTEM INTERNATIONAL LTD

Citation

NEWGLAD INVESTMENTS LTD v. WORLD SYSTEM INTERNATIONAL LTD
Court

Court of First Instance
Case number

HCMP2405/2013

The court held that the statutory criteria were satisfied: the ultimate owners were aware and not prejudiced, the defaults were inadvertent, and there was credible evidence of future compliance (engagement of professionals and disclosure to HKSE); accordingly the court exercised its discretion to order each company to call a general meeting within 28 days and to extend the time for audited accounts to be laid before those meetings, subject to the Applicants' undertaking to disclose the orders and reasons to the HKSE and in any prospectus.