23 Apr 2015
LLP v. LWYA
- Citation
- LLP v. LWYA
- Court
- Court of Appeal
- Case number
- CACV152/2013
The Court granted as‑of‑right leave because, on the undisputed evidence (20 million shares with total par value HK$20,000,000 representing 16% of issued capital; NPL directly holds substantial landed properties; audited accounts showing fixed assets >HK$413,000,000 and profits; recent acquisitions >HK$208,000,000), the 20 million shares were clearly quantifiable at a value in excess of HK$1,000,000 without need for further complex valuation inquiry; the par value and capital maintenance rules supported this conclusion.