Wong Chun Kit v Cheng Kwong Fat, HCA 1705/2017, 19 March 2020, CFI (Lisa Wong J in Chambers)
This case involves Common law derivative action. The defendant shareholders changed mandate for operation of company bank accounts and transferring funds to personal account. The actions are against the defendants for breach of fiduciary duties. The defendants did not dispute company’s entitlement to funds. Application is made for leave to continue with derivative action and for pre-emptive costs order.