Jurisdiction of the Hong Kong Courts re winding up and unfair prejudice petitions — offshore companies
Hong Kong law contains a number of provisions designed to protect the interests of minority shareholders, including the “unfair prejudice” remedies under section 168A of the Companies Ordinance and the Ordinance’s “just and equitable” winding-up provisions. These protections can, in some cases, also be invoked by shareholders of non-Hong Kong companies. However, as the Hong Kong Court’s recent judgment in Re Yung Kee Holdings Limited demonstrates, a minority shareholder of a non-Hong Kong company would be wise to proceed cautiously before seeking to avail itself of these provisions.
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