23 Jan 2025
RED ASSET MANAGEMENT LTD AND ANOTHER v. SANCUS GROUP LTD AND ANOTHER
- Citation
- [2025] HKCFI 432
- Court
- Court of First Instance
- Case number
- HCA1493/2022
The STA, read in context of the MOU and accompanying documents, established that the Total Consideration was paid for the transfer of shares in the Target Company (45.0295%); transfers concerning BOAIFS were dealt with separately and did not form part of the bargained-for performance for the Total Consideration; because D1 had transferred no Target Company shares to plaintiffs there was a total failure of consideration and no credible triable issue was shown, final judgment and restitution were ordered.