27 May 2009
The court found the parties only reached an agreement to negotiate; the accountant's valuation was a reference point rather than a binding determinative price, therefore no concluded contract for sale of the plaintiff's shares existed and defendants were not in breach.
10 Jun 2005
Transfers of the entire businesses of Geewing and V&T at substantial undervalue, effected by persons who were de facto directors/controlling participants and to companies in which they had an interest, amounted to breaches of fiduciary duty and unfairly prejudicial conduct justifying winding up on the just and equitable ground; directors and knowing recipients are jointly and severally liable to account to the companies for the value of the misappropriated businesses (HK$3,617,000 for Geewing; HK$7,363,000 for V&T); payments to be made to the companies and costs awarded against the responsibl…
10 Jun 2005
The court found as fact that Mr Yung (a de facto/directing figure) and Mr Poon caused the businesses of Geewing and V&T to be transferred at substantial undervalue to DSD and DSM respectively, that Yin Man was beneficially owned by Mr Yung, and that DSD/DSM and participating directors knowingly participated; these acts stripped the companies of their only income streams, breached fiduciary duties and destroyed the mutual trust underpinning the ventures, justifying winding up on the just and equitable ground and ordering the defendants and recipient companies to account to Geewing (HK$3,617,00…
29 Jun 1992
Tribunal held that on the balance of probabilities SFI's realistic maximum capacity under the 1982 installation in the No-Scheme-World was 100,000 M/T per annum, rising to 110,000 M/T per annum from financial year 1985/86 after fitting water-cooled panels; accepted government's utilization/availability and scheduling approach (including a 90% caster factor and an 85% meltshop factor with 92.5% scheduling); accepted KYM cash-collection as the market benchmark for scrap with a 10% market-inflation adjustment once SFI moved to cash purchases, yielding a scrap trend price of HKD 595 (1987/88 doll…