16 Apr 2020
REMEDY ASIA LTD v. PATRICK TONG HING CHI AND OTHERS
- Citation
- [2020] HKCFI 398
- Court
- Court of First Instance
- Case number
- HCA658/2011
Judge found on balance that Tong remained a de facto director after 28 July 2000 and MAEGL was a shadow director from at least 28 July 2000; the company deliberately under‑reported royalties (massive understatement) and sold assets/supplied related parties at undervalue while insolvent or near insolvency (triggering creditors' duty), conduct was dishonest and in breach of fiduciary duties, s20 Limitation Ordinance applies to primary fraud claims, Remedies: claims under MAHK and Silver Kent Agreements dismissed; claim against Tong and MAEGL for fraudulent/dishonest breach allowed with damages…