Read the full judgment text of HCCW 378/2024 on BabelCite. This High Court CFI judgment was delivered on 24 February 2025.
1. This is a classic case of abuse where the petitioners (who are administrators of a shareholder) (“ Petitioners ”) have misused the winding up proceedings for the purpose of putting an end to a long term investment in property undertaken by 2 shareholders in circumstances where (1) the loans advanced by both shareholders are not repayable on demand; (2) the company still holds the property the value of which far exceeds the mortgage loan owed to the mortgagee and the company is solvent; and (3
Cites 2 cases