February 22 2011
START DATE
END DATE
March 1 2011
NG PUI LUNG v. CY FOUNDATION GROUP LIMITED and LUCK CONTINENT LIMITED
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Supreme Court of Bermuda Commercial Court
Commercial Law
Kawaley J
Paul Smith
Cameron Hill for the 1st Defendant Victor Lyon Q.C. and Rod Attride-Stirling for the 2nd Defendant
FACTS OF THE CASE:
Shareholder battle for control of CY Foundation failure to convene 2010 Annual General Meeting (AGM) legal proceedings surrounding the legitimacy and accuracy of the company's 09/10 Financial Statements involvement of the Independent Commission Against Corruption (ICAC) in Hong Kong arrest and investigation of key individuals
SUMMARY:
Whether an AGM should be convened despite disputes over financial statements and the role of the court in facilitating or postponing the AGM
OUTCOMES:
Dismissal of the Plaintiff's request for AGM postponement granting of the 2nd Defendant's application for an AGM to be convened within 35 days
RULED IN FAVOUR OF:
2nd Defendant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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NG PUI LUNG v. CY FOUNDATION GROUP LIMITED and LUCK CONTINENT LIMITED
Shareholder battle for control of CY Foundation failure to convene 2010 Annual General Meeting (AGM) legal proceedings surrounding the legitimacy and accuracy of the company's 09/10 Financial Statements involvement of the Independent Commission Against Corruption (ICAC) in Hong Kong arrest and investigation of key individuals