13 Jul 2018
XU LIU CHUN v. WU CHANG JIANG AND ANOTHER
- Citation
- [2018] HKCFI 1575
- Court
- Court of First Instance
- Case number
- HCMP3166/2014
On the evidence petitioner was a beneficial owner of the 40% shares (not a nominee); respondent's unilateral transfer of US$4.4m from the company without authorization and respondent's persistent failure to produce audited accounts/adequate financial information amounted to conduct unfairly prejudicial to petitioner as a member; the earlier US$9.2m withdrawals were not proved to be misappropriation and were made with petitioner's knowledge/consent or were of mixed/uncertain provenance; appropriate remedy is an order that respondent purchase petitioner's shares with valuation at the petition d…