Read the full judgment text of CACC 000990/1978 on BabelCite. This Court of Appeal judgment was delivered on 12 January 1979.
1. Mr. James Coe, otherwise known as Hui Lok Kwan, was made a director of the Oceania Finance and Land Corporation Ltd. on the 10th June, 1977. I shall call that company simply "Oceania". It is a registered deposit-taking company. At that time Mr. Coe was interested in purchasing a controlling interest in the San Imperial Corporation Ltd. To do this he needed HK$4,600,000. Apparently he did not have it. He could not borrow that amount from Oceania, section 22 of the Deposit-Taking Companies Ordi