6 Jan 2003
PEREGRINE INVESTMENTS HOLDINGS LTD. AND ANOTHER v. ASIAN INFRASTRUCTURE FUND MANAGEMENT CO. LTD. L.D.C. AND OTHERS
- Citation
- PEREGRINE INVESTMENTS HOLDINGS LTD. AND ANOTHER v. ASIAN INFRASTRUCTURE FUND MANAGEMENT CO. LTD. L.D.C. AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA2853/1998
The court found PII was not a bare trustee or nominee of PIH; clause 14, by enabling transfer of valuable shares at par on presentation of a winding-up petition (or by reference to an affiliate's petition), had the effect of depriving the insolvent estate of realizable value and was void as contrary to the anti-deprivation principle and public policy; the transfers effected in February 1998 were therefore void and the defendants were liable for conspiracy to injure PIH.