Aug 2021
Conyers represented the successful claimants in Claim No. BVIHCM 2017/086 King Bun Limited and Others v. Lau Man Sang, James and Others, a derivative action commenced by minority shareholders concerning disputes about breaches of director’s duties, fraud on the minority and sale of assets to the chairman of the board at an undervalue. By a judgment handed down on 11 August 2021, the BVI Commercial Court decided that the claimants’ claims against all directors of Vanway International Group Limited were successful. Those claims concerned breaches of director’s duties under sections 120 to 122 and section 175 of the BVI Business Companies Act, breaches of fiduciary duties, and breaches of duty of fidelity and good faith.
The 22-day trial on liability spanned three sittings. The claimants’ legal team was led by the late Edmund King, QC (Essex Court Chambers), who was succeeded by Jern-Fei Ng, QC (7BR Barristers Chambers). The global team from Conyers comprised Jerry Samuel and Alecia Johns (based in BVI), and Norman Hau and Emily So (based in Hong Kong).