A non-executive director of consumer electronics company Wah Nam Group has succeeded in a legal action to inspect certain aspects of the company's accounts.
In a judgment in the Court of First Instance, Madam Justice Maria Yuen Ka-ning ordered that Terence Ho Pui-tin, who was Wah Nam's finance director until March, be allowed to inspect accounting records after being refused access to certain documents earlier this month.
Mr Ho launched his legal action last week. He and former chief executive Samson David Chen are the focus of a damages lawsuit filed by Wah Nam at the end of June for alleged breach of duty relating to four subscription agreements.
According to the judgment, Mr Ho's request to inspect the company's accounts, contained in a letter on August 18, was prompted by his concern over their reliability and accuracy.
Madam Justice Yuen said the company had failed to establish that, although there was litigation between them, Mr Ho's request to inspect the records was made in bad faith.
'There was no evidence of mala fides and so the plaintiff's request for inspection should have been complied with as soon as possible,' Madam Justice Yuen said.