18 Oct 2007
YIP KWAI CHOR v. KING FUNG CONSTRUCTION WORK CO LTD AND ANOTHER
- Citation
- YIP KWAI CHOR v. KING FUNG CONSTRUCTION WORK CO LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP375/2005
The court held that the petition date (29 July 2004) is the appropriate date for valuation because the respondent failed to show good grounds to displace that date; a certified public accountant (CPA) experienced in asset valuation is the appropriate valuer (with liberty to consult a quantity surveyor); the valuer must include future profit prospects and honour the established 50% profit‑sharing entitlement in valuing the petitioner’s shares; no minority discount is to be applied; specific directions were given to account for identified repayments and diverted contract sums (including repayme…