14 Jun 2011
EAST ASIA SATELLITE TELEVISION (HOLDINGS) LTD v. NEW COTAI, LLC AND OTHERS
- Citation
- EAST ASIA SATELLITE TELEVISION (HOLDINGS) LTD v. NEW COTAI, LLC AND OTHERS
- Court
- Court of Appeal
- Case number
- CACV160/2010
The court held that the availability of derivative and multiple derivative actions is governed by the law of the company's place of incorporation; BVI and Macao law do not recognise multiple derivative actions such that the asserted multiple derivative claims were not arguable and were properly struck out; reflective loss doctrine barred recovery of the asserted diminution of enterprise value by shareholders through the claimed chain; service out may be set aside for material non-disclosure and that Reyes J's exercise of discretion in that respect was within bounds; however the court permitte…