Read the full judgment text of CACV 20/2011 on BabelCite. This Court of Appeal judgment was delivered on 5 September 2014.
1. The plaintiff is a company incorporated in Hong Kong. At all material times, Mr Leung Kar Fai (“Mr Leung”) and the defendant were its two equal shareholders and directors. In 2008, Mr Leung obtained leave under section 168BC of the Companies Ordinance, Cap 32 to commence the present statutory derivative action against the defendant for, among other things, breach of fiduciary duty as director arising from :