ABCDEFGHIJKLMNOPQRSTUV由此ABCDEFGHIJKLMNOPQRSTUVHCA1221/2006INTHEHIGHCOURTOFTHEHONGKONGSPECIALADMINISTRATIVEREGIONCOURTOFFIRSTINSTANCEACTIONNO.1221OF2006____________BETWEENPINEENTERPRISESLIMITEDPlaintiffandCYBERSTRATEGYLIMITED1stDefendantLECTUREKITCOMPANYLIMITED2ndDefendantandWOOPAKHAYEDWARD1stThirdPartyLAWSHIUKAIANDREW2ndThirdParty____________HCCW593/2005INTHEHIGHCOURTOFTHEHONGKONGSPECIALADMINISTRATIVEREGIONCOURTOFFIRSTINSTANCECOMPANIESWINDING-UPPROCEEDINGSNO.593OF2005____________INTHEMATTERofUnionResources(EducationalDevelopment)LimitedANDINTHEMATTERofSections168Aand177(1)(f)oftheCompaniesOrdinance(Cap32)ABCDEFGHIJKLMNOPQRSTUVABCDEFGHIJKLMNOPQRSTUV由此-2-BETWEENPINEENTERPRISESLIMITEDPetitionerandLECTUREKITCOMPANYLIMITED1stRespondentUNIONRESOURCES2ndRespondent(EDUCATIONALDEVELOPMENT)LIMITED____________(HCA1221/2006andHCCW593/2005areheardandtriedtogetherpursuanttotheorderofHighCourtJudgePoondated31July2007)Before:DeputyHighCourtJudgeToinCourtDatesofHearing:17-21,24-25,27-28September2007,2-3October2007,5-6,8-9,12-14November2007,4,7-8,14,30-31January2008and1,4February2008DateofJudgment:14March2008_______________JUDGMENT_______________INTRODUCTION1.Thisisatrialoftwoactions,namelyHCCW593/2005andHCA1221/2006,orderedtobetriedtogetherpursuanttotheorderofPoonJ.ThedisputearoseoutoffouragreementsinconnectionwiththesalebyPineEnterprisesLimited(“Pine”)ofitssharesinUnionResources(EducationalDevelopment)Limited(“URLimited”)toLectureKitABCDEFGHIJKLMNOPQRSTUVABCDEFGHIJKLMNOPQRSTUV由此-3-CompanyLimited(“LectureKit”).ThesharesinURLimitedweredulytransferredtoLectureKiton13May2003.Pinecomplainedofbreachoftheagreements.On1August2005,PinepetitionedforthewindingupofURLimitedonjustandequitablegroundunderHCCW593/2005.On7June2006,PinealsocommencedactionHCA1221/2006againstLectureKitanditsparentcompanyCyberStrategyLimited(“CyberStrategy”)forbreachofagreement.CyberStrategyandLectureKitcounterclaimedagainstthe1stand2ndThirdPartiesforfalserepresentation.IconsiderthemainactionisHCA1221/2006.2.ThePlaintiffandthe1stThirdPartyarerepresentedbyMrPoonSCandMsLindaChan.TheDefendantsarerepresentedbyMissAngelaGwiltandMrCYLiwhojoinedinasleadingcounselonthe12thdayoftrial.The2ndThirdParty,whoisapractisingsolicitor,appearedinpersonexceptforthelastdayofthetrialwhenheisrepresentedbyMsElsieYiu.3.Bytheseventhdayofthetrial,thepartieswerestillentangledinpre-trialmatters.Ratherthantohavebothactionsadjournedandre-fixed,Iconsidereditinthebestinterestofallpartiestocontinuehearingthemainactionandtoadjournthewindingupaction.Hence,onmyownmotion,IadjournedHCCW593/2005toadatetobefixedandcontinuedhearingHCA1221/2006.Iamgladtohavetakenthatcourse,becauseastheevidenceunfolds,itbecameobviousthattheevidenceinthewindingupactionwouldbehighlyprejudicialtotheDefendantsinthemainactionandtheevidenceinthemainactionwouldalsobeprejudicialtotheRespondentsinthewindingupaction.Inthisjudgment,IshallrefertosomeoftheevidenceinthewindingupactionforthepurposeofsettingoutthebackgroundinwhichthematerialissueswhichIhavetodecideinthemainactionarose.IdonotrelyonanyofthoseevidenceinmyassessmentABCDEFGHIJKLMNOPQRSTUVABCDEFGHIJKLMNOPQRSTUV由此-4-ofcredibilityofwitnessesorfindingoffactinthemainaction.Imakenofindingoffactinrespectofthewindingupactioneither,notevenaprovisionalview.4.Onthe13thdayoftrial,shortlyafteropeningthedefencecase,theDefendantsoffere...
