Read the full judgment text of HCMP 001132/2009 on BabelCite. This High Court CFI judgment was delivered on 21 December 2009.
1. China Magic seeks a summary Order that Benefun’s directors register the transfer of 468,750,000 fully paid up Benefun Shares to HKSCC. China Magic executed a share transfer form in HKSCC’s favour in February 2009. But until now Benefun’s directors have refused to register the transfer on the ground that in a pending High Court action Blackpool claims to be the beneficial owner of the Shares. In the alternative, Benefun asserts that it has an equitable lien over the Shares.