1 Feb 2024
MA KING HUEN v. THE SINCERE COMPANY, LTD
- Citation
- [2024] HKCFI 319
- Court
- Court of First Instance
- Case number
- HCA1746/2021
The court held that clause 5.2 of the Confirmation Letter unambiguously entitled the plaintiff to remuneration upon a recommendation by the Remuneration Committee; the RC's 29 May 2020 recommendation therefore triggered the plaintiff's contractual entitlement including amounts allocated to subsidiaries because those allocations were internal charging by the parent. Directors' fees were governed by Article 57 but consistent AGM resolutions authorising the board to fix fees and longstanding practice meant the plaintiff was entitled to pro rata directors' fees. The board's 18 August 2021 action…