31 Jan 2018
張才奎所託管中國山水投資有限公司股份相關員工 AND OTHERS v. 張才奎 AND ANOTHER
- Citation
- [2018] HKCFI 194
- Court
- Court of First Instance
- Case number
- HCA2191/2014
The receivership was discharged because there was a highly material change of circumstances and material non‑disclosures: a substantial majority of plaintiffs had contracted to sell and in large part been paid for their beneficial interests (c. 2,090 plaintiffs representing c.306,610 CSI shares) with funds traceable to an interested third party (Tianrui), the litigation and plaintiffs’ instructions were in reality serving purchasers, and the court’s protective rationale for the receivership had been undermined. Given those facts the court exercised its jurisdiction to discharge the receiversh…