9 Mar 2017
BASAB INC. v. FOK HEI YU AND ANOTHER
- Citation
- BASAB INC. v. FOK HEI YU AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA2562/2013
The claims by Basab Inc. and Mr Hui against the receivers were struck out and dismissed because the loss pleaded by the plaintiffs was merely reflective of the loss of Accufit resulting from the sale of KHL shares; accordingly the no reflective loss principle bars the plaintiffs' claims against the receivers and the injunction sought was unnecessary in light of the refusal of leave for a BVI derivative action; costs were ordered for the receivers.
- No reflective loss principle
- Receivers' equitable duties to chargor/guarantor
- Statutory derivative action
- Conspiracy to injure by unlawful means
- Striking out under o.18 r.19 rhc
- Costs