12 Nov 2013
LEUNG CHUN WAH v. WILLAS-ARRAY INVESTMENTS LTD
- Citation
- LEUNG CHUN WAH v. WILLAS-ARRAY INVESTMENTS LTD
- Court
- Court of First Instance
- Case number
- HCMP1504/2013
The court exercised its discretion to grant relief under sections 111 and 122 because, on the evidence, the contraventions were largely inadvertent or explicable (notably the 2007 audit timing issue), affected shareholders were aware of the financial positions and not prejudiced, and satisfactory measures were in place to ensure future compliance; accordingly validation of past irregularities was necessary to remove obstacles to the proposed Hong Kong listing.