Hong Kong Case Law: Decisions & Judgments

17 Oct 2003

CORE PACIFIC-YAMAICHI INTERNATIONAL (HK) LTD AND ANOTHER v. YUANTA SECURITIES ASIA FINANCIAL SERVICES LTD

Citation: CORE PACIFIC-YAMAICHI INTERNATIONAL (HK) LTD AND ANOTHER v. YUANTA SECURITIES ASIA FINANCIAL SERVICES LTD
Court: Court of First Instance
Case number: HCMP3231/2003

The court held that the Company, being a nominal party to a shareholder petition under ss.168A and 177(1)(f), should not take an active partisan role or expend corporate funds in opposing the petition unless it can discharge the heavy onus of showing necessity or expediency in the interests of the company as a whole; the Company failed on the material before the court to justify active participation or its arbitration argument at this interlocutory stage, and an injunction was granted restraining the Company from participating in the petition hearings without leave of the Court while other re…

Unfairly prejudicial conduct
Just and equitable winding up
Stay to arbitration
Nominal party participation
Funding of company litigation
Abuse of process

Hong Kong Case Law

DBS BANK (HONG KONG) LTD v. KEENPACK INDUSTRIAL LTD AND OTHERS

CORE PACIFIC-YAMAICHI INTERNATIONAL (HK) LTD AND ANOTHER v. YUANTA SECURITIES ASIA FINANCIAL SERVICES LTD