Read the full judgment text of HCA 001388/1986 on BabelCite. This High Court CFI judgment.
1. On the 25th April 1969, two brothers incorporated the Defendant company with a capital of $500,000 divided into 500 shares of $1,000 each for the purpose of developing real estate. Those two brothers were Mr. YEUNG Iu-chi (DW1) and Mr. YEUNG Yiu-yuk, the Plaintiff's father. Initially, only 300 shares were allotted, 150 going to DW1 and the other 150 going to the Plaintiff's father. By Article 15 of the Defendant company, the two brothers were its permanent directors. On the 16th May 1974, the