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ARTICLE · 27 MARCH 2024

Conyers Successfully Defends Company In Case Arising From Contentious SGM

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The Receivers requisitioned a special general meeting (the "SGM") to consider resolutions for the appointment of seven new directors to the Company's Board.

BermudaCorporate/Commercial Law
Norman Hau
Norman Hau
Ben Adamson
Ben Adamson
Manwa Yip
Manwa Yip
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In Ho Kwok Leung Glen, Hau Kai Ling and Ge Jun v Nan Hai Corporation Limited [2024] SC (Bda) 2 Civ, 31 January 2024, the Supreme Court of Bermuda (the "Court") rejected the Plaintiffs' application for a declaration that seven directors were validly appointed at a special general meeting convened pursuant to the Plaintiffs' requisition.

Background

The Defendant company (the "Company") was formerly listed on the Hong Kong Stock Exchange. Some of the Company's issued shares were charged in favour of a creditor, which in turn appointed the Plaintiffs to act as receivers (the "Receivers" or the "Plaintiffs") over the said shares.

The Receivers requisitioned a special general meeting (the "SGM") to consider resolutions for the appointment of seven new directors to the Company's Board.

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