3 Jul 2025
JOINT AND SEVERAL LIQUIDATORS OF HONG TAK (LIN FAT) HOME FOR THE AGED COMPANY LTD (IN COMPULSORY LIQUIDATION) v. LEE TAO YING AND ANOTHER
- Citation
- [2025] HKCFI 2855
- Court
- Court of First Instance
- Case number
- HCCW380/2020
Because the Company was insolvent at the time the Dividend Resolution was passed and the directors passed the Dividend Resolution without properly considering creditors' interests, they breached the creditor fiduciary duty; accordingly the appropriate remedy under s276 is repayment of HK$2,330,000 with interest and costs on a nisi basis; Duomatic does not excuse acts taken while the company was insolvent or not bona fide.