25 Feb 2015
RE HUN KAI FINANCE CO LTD
- Citation
- RE HUN KAI FINANCE CO LTD
- Court
- Court of Appeal
- Case number
- CACV31/2014
The Court held the judge did not err: the correct threshold for an s276 enquiry is that there be a sufficient prima facie basis to warrant inquiry (not the full striking out standard), and on the evidence the judge's exercise of discretion to refuse inquiry and to regard the Liquidator's compromise as reasonable fell within the range of proper decisions; common law derivative relief cannot pursue a liquidator and vicarious liability against BDO defendants was unsustainable given the Liquidator's personal appointment; leave under s168BC would not be prima facie in the interest of the company.…