Read the full judgment text of HCA 008423/1994 on BabelCite. This High Court CFI judgment was delivered on 26 May 1997.
1. Prior to severing their business interests in 1992, the Plaintiff and the Defendant through nominee companies each owned 50% of Imcor Limited ("Imcor"), a company incorporated in Hong Kong. Imcor was the beneficial owner of an inactive company called Wise Pearl Limited ("Wise Pearl"). Imcor carried on a business in the sourcing, manufacturing, exporting and sale of bags and other similar items in Europe, the United States of America and elsewhere ("the Business"). In March 1992 the Plaintiff