6 Jul 2004
LAU KWOK FAI v. renren HOLDINGS LTD
- Citation
- LAU KWOK FAI v. renren HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCMP4539/2003
The court held that Condition 8(E) unambiguously required written notice to be given within three business days immediately prior to the Maturity Date and that the Defendant's letter of 14 August 2002 (given outside that period) did not constitute valid notice; consequently the Defendant could not compel acceptance of shares, the allotment was wrongful, the Plaintiff was entitled to repayment of principal and interest, there was no waiver or equitable bar, and the register must be rectified under s100 Companies Ordinance; interest on HK$720,000 awarded from 23 August 2002 at 1% over HSBC best…