Read the full judgment text of FAMV 7/2010 on BabelCite. This Court of Final Appeal judgment was delivered on 30 June 2010 before Bokhary PJ, Chan PJ, Ribeiro PJ.
Civil procedure – application for leave to appeal – directors’ fiduciary duties – misappropriation of corporate property – equity of redemption – judicial sale – insurance proceeds – strict liability to account – appeal dismissed with costs
Legal issues: Strict liability of directors to account for profits from resale of vessel and insurance proceeds
Outcome: Application for leave to appeal dismissed with costs.