Hong Kong Case Law: Decisions & Judgments

Topic

Public float restoration

Legal area

Court

14 Sept 2018

ARCELORMITTAL AND ANOTHER v. CHINA ORIENTAL GROUP CO LTD AND OTHERS

Citation

[2018] HKCFI 2066
Court

Court of First Instance
Case number

HCMP1163/2017

The plaintiffs failed to establish a sufficiently reasonable case for investigation under s740(2): their complaints were predominantly challenges to commercial/managerial decisions (choice of placing agent and pricing) rather than evidence of misconduct, and their suspicion about placees lacked supporting evidence; therefore inspection order was not justified and the application is dismissed.
20 Feb 2017

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER

Citation

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER
Court

Court of First Instance
Case number

HCA939/2015

Given material indicating both the 1st defendant and prima facie a large number of plaintiffs opposed the proposed placement and because receivers are interim custodians whose function is to preserve the subject matter of litigation, the receivers were properly directed to exercise the voting rights attached to the CSI shares to seek an adjournment of the CSCG EGM to ascertain plaintiffs' positions and, failing adjournment, to vote against the resolutions; the 1st defendant's application for a direction to abstain was not made out.
20 Feb 2017

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER

Citation

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER
Court

Court of First Instance
Case number

HCA1766/2014

The court directed the receivers to exercise the rights attached to the 45.63% CSI shares in receivership to seek a four-week adjournment (or longer if necessary) of CSCG's EGM to ascertain plaintiffs' positions and, if adjournment could not be obtained, to vote against the proposed placement and related resolutions. The direction rested on evidence that both the 1st defendant and prima facie a large number of plaintiffs opposed the resolutions and on the principle that receivers, as interim custodians, should preserve the subject matter for those entitled to it. The court refused the 1st def…

Hong Kong Case Law

ARCELORMITTAL AND ANOTHER v. CHINA ORIENTAL GROUP CO LTD AND OTHERS

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER

張才奎所託管中國山水投資有限公司股份 AND ANOTHER v. 張才奎 AND ANOTHER