19 Aug 2022
RE GTI HOLDINGS LTD (IN OFFICIAL LIQUIDATION)
- Citation
- [2022] HKCFI 2598
- Court
- Court of First Instance
- Case number
- HCMP1556/2020
The court held that the JOLs/PLs made material misrepresentations and withheld material facts from the Cayman and Hong Kong courts, engaged in forum shopping to bypass the Hong Kong statutory winding-up regime, and thereby breached duties as officers of the court and fiduciaries; as a result the JOLs were ordered to bear the costs of the Official Receiver (HK$29,000) forthwith and their remuneration and costs related to the ex parte application are disallowed from recovery from the company's assets and must be paid personally by the JOLs.