30 Nov 2018
DACHENG ENTERPRISE CO v. GLOBAL BIO CHEM TECHNOLOGY GROUP CO LTD
- Citation
- [2018] HKCFI 2556
- Court
- Court of First Instance
- Case number
- HCA2738/2017
The claim must be struck out because the pleaded facts do not establish that Xu had actual or apparent authority to bind the listed company to the 2011 Agreement or the Promised Acts; the transactions were outside the ordinary scope of an executive's authority for a publicly listed company and there is no evidence of board sanction or other corporate approval to support Plaintiff's case, rendering the claim obviously unsustainable.