14 May 2020
LAU WING YAN v. PACIFIC BULK INVESTMENT LTD
- Citation
- [2020] HKCFI 769
- Court
- Court of First Instance
- Case number
- HCMP315/2019
The court found the threshold for a serious question to be tried under s733 met because ambiguity exists as to beneficial ownership following a nominal-value transfer and whether the transfer was intended to pass beneficial title; the substitution of ownership via Smart City did not conclusively show absence of prejudice because a shareholder does not own the company’s assets and Smart City's liabilities and value were unclear; allegations of material non-disclosure and ulterior motive were not supported by strong and convincing evidence. Accordingly the ex parte leave was not set aside and t…