22 Jun 2001
WONG MAN YIN v. RICACORP PROPERTIES LTD. AND OTHERS
- Citation
- WONG MAN YIN v. RICACORP PROPERTIES LTD. AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP1571/2000
The court found that although earlier share allotments and procedural breaches occurred, the petitioner had been offered shares, had acquiesced in initial capital increases and his dilution resulted from his choice not to subscribe; the 6th EGM was a legitimate attempt to regularise capital. However, the consistent payment of very large directors' emoluments coupled with the failure to declare dividends and repeated failures to observe statutory and company procedures amounted to conduct unfairly prejudicial to the petitioner under s168A. Consequently the appropriate relief was an order that…