Bill Wong Cho-bau takes DBC fight to court
Bill Wong Cho-bau, major shareholder of Digital Broadcasting Corporation, has asked the High Court to declare that he was not in breach of a shareholder agreement when he refused to inject HK$50 million into the financially troubled company.
Wong, chairman of the station, states in a writ made public yesterday that the financing was requested by the station's president, Albert Cheng King-hon - named Cheng Jinghan in the document - and the station's chief executive officer, Morris Ho Kwok-fai.
The court document shows that Wong seeks a declaration that there was no binding agreement for him to contribute additional funds other than under a clause of the shareholder's agreement. Details of the clause are not in the writ.
Cheng called the legal action a "pre-emptive measure" by Wong to avoid being sued.
"He agreed [to inject funds] and [the resolution] was passed in the meeting. He is quick to take action because he knows very well that he is wrong," Cheng said. He said he had not contemplated legal action against Wong.
The pair have been at odds since Cheng openly lambasted Wong, a Beijing loyalist, for refusing to top up his investment for what Cheng called political reasons.
Cheng said last month that DBC had to shut down because of Wong's sudden withdrawal of fresh funds, but he announced last week that the station would continue to run after programme hosts agreed to take a 50 per cent pay cut.
This is the second legal action Wong has brought over the operation of the radio station. Last week, he filed a writ over the company's bookkeeping and the case will be heard on Monday.