31 Aug 2010
CHARM DRAGON HOLDINGS LTD v. PACIFIC ATLANTIC LTD
- Citation
- CHARM DRAGON HOLDINGS LTD v. PACIFIC ATLANTIC LTD
- Court
- Court of First Instance
- Case number
- HCMP1437/2010
The court granted the extensions because the three established criteria were satisfied: shareholders (the ultimate owners) were aware of the companies' financial positions and thus not prejudiced; the defaults were inadvertent due to an accountant's mistake; and the applicants provided assurance of future compliance; relief was conditioned on an undertaking to notify The Stock Exchange of Hong Kong of the order and reasons.