31 Jan 2018
張才奎所託管中國山水投資有限公司股份相關員工 AND OTHERS v. 張才奎 AND ANOTHER
- Citation
- [2018] HKCFI 194
- Court
- Court of First Instance
- Case number
- HCA1564/2015
Appointment of the receivers was discharged insofar as necessary because there was a highly material change of circumstances: a large majority of plaintiffs (notably 2,090) had contracted to sell and been substantially paid for their beneficial interests such that the original protective purpose of the receivership had largely evaporated; moreover material facts (sales, origin of funds, funding of plaintiffs' solicitors) were not disclosed to the court when key directions were made, which justified revisiting and discharging the receivership rather than replacing the receivers or ordering nov…