30 Nov 2000
INFINITY DEVELOPMENT (HOLDINGS) CO. AND ANOTHER v. BANK OF CHINA AND OTHERS
- Citation
- INFINITY DEVELOPMENT (HOLDINGS) CO. AND ANOTHER v. BANK OF CHINA AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA5491/2000
The court found it plain and obvious that the proposed Kong Tai transaction did not accord with the terms or purpose of the 1997 modification/memorandum and therefore D4-D6's disapproval was not a breach; the memorandum could be no more than a statement of intention or an incomplete agreement; the bona fide test for shareholders applies and plaintiffs failed to plead or prove lack of good faith or actual malice; there was no properly pleaded procurement or sufficiently particularised conspiracy; any alleged confidentiality breach caused no demonstrable loss; accordingly the claim was struck o…