31 Aug 2010
GRACE SHINE INTERNATIONAL LTD v. WENCA DEVELOPMENT LTD
- Citation
- GRACE SHINE INTERNATIONAL LTD v. WENCA DEVELOPMENT LTD
- Court
- Court of First Instance
- Case number
- HCMP1440/2010
Applying the established factors the court found defaults were inadvertent, shareholders (ultimate beneficial owners) were aware of the financial position and not prejudiced, and future compliance was likely; accordingly extensions under s.111(2) and s.122(1B) were granted subject to an undertaking to notify The Stock Exchange and prospective investors.
- Extension of time for convening annual general meetings
- Failure to lay accounts
- Companies ordinance s.111(2)
- Companies ordinance s.122(1b)
- Disclosure to stock exchange