Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

No-conflict rule

Legal area

Court

13 Jun 2022

WONG WAI CHUNG AND ANOTHER v. WONCORN INVESTMENT LTD

Citation

[2022] HKCFI 1680
Court

Court of First Instance
Case number

HCMP1313/2020

Leave to bring the derivative action was refused because the applicants failed to establish a serious question to be tried on the undisputed evidence: the company had acquiesced to family occupation of the properties so no clear breach of fiduciary duty was shown; the complaint concerned mismanagement rather than actionable misconduct; the claim lacked sufficient particularisation and proper s.733 notice was not given; accordingly it was not in the companys interests to grant leave.
20 May 2016

WADDINGTON LTD v. CHAN CHUN HOO THOMAS AND OTHERS

Citation

WADDINGTON LTD v. CHAN CHUN HOO THOMAS AND OTHERS
Court

Court of Appeal
Case number

CACV10/2014

The Court upheld the trial judge's findings that D1 had negotiated the Yugang transaction prior to the market sale and, as fiduciary in control of both entities, breached the no‑conflict duty by causing Profit Point to dispose of its shares to facilitate the Yugang sale for the benefit of D1/Chansam; causation was established on equitable principles and MDA was available; the BVI law point was barred by prior interlocutory determinations and abuse/issue estoppel; pre‑judgment interest was adjusted on appeal to the conventional prime+1% starting point and compound interest was refused.