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
- HCA1661/2014
The receivership was discharged because there had been a highly material change and undisclosed facts undermining the premises for appointment: a large majority of the plaintiffs had executed SPAs and been paid (thus lacked real interest), substantial funds originated from the rival shareholder (Tianrui) and material facts were not placed before the court when directions were previously granted; those facts justified discharge of the interim receivership and refusal to grant the replacement or alternative orders sought by applicants.