Commercial disputes

Gall Obtains Proprietary Injunction over Shares in Lunan Pharmaceutical Group Corporation

Gall recently obtained a proprietary injunction in Hong Kong for its clients, Ms Zhao Long and a British Virgin Islands (“BVI”) company Endushantum Investments Co., Ltd. (“Endushantum”) in a complex cross-border dispute involving the shareholdings in Lunan Pharmaceutical Group Corporation (“Lunan”), a significant PRC pharmaceutical company, and other group companies (collectively, the “PRC Shares”).

Valuation of Shares in Unfair Prejudice Proceedings

Shareholders’ disputes, in some cases, are like a divorce according to Gall Consultant Kenix Yuen. Business partners work for years together, and eventually build up a successful business empire, only to find that it is time to go separate ways. In the unfortunate event that the break-up is painful and shareholders have to proceed with unfair prejudice proceedings, what would be the relevant considerations during the process of valuation if a buy-out order is made in the Hong Kong court?Kenix Yuen explores this in her article for In-House Lawyers’ Autumn 2019 issue.

Vincent Lee provides an analysis of The Supreme Court of the United Kingdom’s landmark decision on “No Oral Modification” Clauses and the practical implications on the parties to a commercial contract in Hong Kong.

It is common for parties to a commercial contract to insert a clause stating that “all variations to the contract must be agreed, set out in writing and signed on behalf of both parties before they take effect” (commonly known as a “No Oral Modification” or “NOM” clause). If the parties subsequently have a purported oral agreement to vary a particular term of the contract but do not say anything about the NOM clause, will such a variation be effective?