18 Oct 2021
NINOTRE INVESTMENT LTD AND ANOTHER v. STRONG LIGHT INVESTMENTS LTD AND ANOTHER
- Citation
- [2021] HKCFI 3095
- Court
- Court of First Instance
- Case number
- HCCW72/2019
On the evidence the court found on the balance of probabilities that the Wongs (principally via Ryan) exercised control over the Company through nominees and directed or caused serious misfeasance (notably the Red5 transaction, placement and option schemes and related-party dealings), that internal and regulatory processes were inadequate to vindicate minority interests and that alternative remedies in the Cayman Islands were not a sufficient or practical safeguard given the likelihood of concealment and continuing risk; accordingly it was just and equitable to wind up the Company to enable i…