14 Jun 2017
Relevant employees whose shares in China Shanshui Investment Company Limited held by ZHANG CAIKUI on trust (Please refer to Schedule 1 attached to the Writ of Summons for names of the relevant employees) AND ANOTHER v. ZHANG CAIKUI AND ANOTHER
- Citation
- Relevant employees whose shares in China Shanshui Investment Company Limited held by ZHANG CAIKUI on trust (Please refer to Schedule 1 attached to the Writ of Summons for names of the relevant employees) AND ANOTHER v. ZHANG CAIKUI AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA2191/2014
The application was dismissed because the applicants failed to meet the high threshold required to justify court intervention in receivers' commercial decisions: there was no evidence of bad faith or legal error by the receivers, the grant of a general mandate is routine and does not itself cause dilution, the receivers had undertaken not to vote to dilute CSI, and there were adequate shareholder remedies available; therefore no direction to the receivers was warranted.