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Shareholder Rights and Remedies in Hong Kong

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This book seeks to provide a practice-oriented and detailed treatment of the law and procedure of shareholders rights and remedies from a Hong Kong law perspective. In recent years there is a growing body of local jurisprudence on minority shareholder action. With the prevalence of Chinese family-controlled companies and increased commercial activities between Hong Kong and Mainland China, the past decade has seen a proliferation of shareholder dispute involving family-owned companies, giving rise to a substantial increase in the number of section 168A unfair prejudice petitions and shareholder derivative suits. Whilst practitioners may continue to draw heavily on the authority of the standard English texts, we believe this is an area of law that has assumed enormous importance for Hong Kong to have its own legal books.rnAs the first practitioner text on shareholders' rights and remedies in Hong Kong, this book is intended to provide a practical and comprehensive analysis of the common law and statutory derivative actions, as well as the twin statutory remedies of unfair prejudice and just and equitable winding-up. The book is divided into three parts: general principles (Chapter 1); legal principles of shareholders' remedies (Chapters 2-6); practice and procedures of section 168A unfair prejudice petitions and section 177(1)(f) just and equitable winding-up petitions (Chapters 7-8).rnThis book contains detailed coverage of the most recent legislative reforms of shareholders' remedies in Hong Kong, such as the clarification of the enforcement of shareholders' personal rights under the articles of association (considered in Chapter 4); the introduction of a new statutory derivative action under the Companies Ordinance Part IVAA in July 2005 (discussed in Chapter 3); the expansion of the statutory derivative action to `multiple' derivative actions, ie allowing a member of a related company (broadly defined to include a subsidiary or a parent company or an associated company) of a specified corporation to bring or intervene in proceedings against a specified corporation: Companies (Amendment) Ordinance 2010, Pt 4. The common law derivative action is expressly preserved, in parallel to the statutory action. In terms of recent case law developments, pride of place must go to the Court of Final Appeal decision in Waddington Limited v Chan Chun Hoo Thomas and Others (2008) 11 HKCFAR 370 — the first reasoned decision of a higher court in any common law jurisdiction outside the US which sought to settle long-standing doubts by holding that `multiple derivative actions are available at common law. These are welcome developments and would probably increase the number of cases advanced before the courts. In this work, we have also attempted to provide a lucid explanation of the respective merits of derivative actions and unfair prejudice petitions, as well as the vexed issue of corporate wrongs.rn

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Informasi Detail

Judul Seri

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No. Panggil

346.5125 CHE s

Penerbit

HONG KONG : Lexis Nexis., 2011

Deskripsi Fisik

xxxviii + 491 Hal. ; 26 cm.

Bahasa

English

ISBN/ISSN

978-988-8111-14-5

Klasifikasi

346.5125

Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

HUKUM PERDATA

Info Detail Spesifik

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Pernyataan Tanggungjawab

Cheung, Rita. Suen, Jenkin. Tan, Eric.

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