In a recent decision,1 the Supreme Court of New South Wales ordered that court proceedings between shareholders in a Taiwanese bubble tea company be stayed in favour of UNCITRAL Rules arbitration at the Hong Kong International Arbitration Centre.
The dispute arose between two shareholders of Infinite Plus, an Australian company that acts as franchisor for the publicly-listed Taiwanese bubble tea company, La Kaffa International Co Ltd (La Kaffa Taiwan), operating under the brand “ChaTime”. One of the shareholders, Yang Yang Qian, issued the other, Chen Zhao, with an Expulsion Notice under a shareholders agreement. The Expulsion Notice set out alleged breaches by Mr Zhao of the shareholders agreement between him, Ms Qian, Infinite Plus Pty Ltd and La Kaffa International Co Ltd, a company incorporated in the Cayman Islands (La Kaffa Cayman) and triggered a buy-out procedure, estimating the value of Mr Zhao’s interest in Infinite Plus at $1,500,000.
Read full article HERE
Dr Sam Luttrell, Partner, Clifford Chance, Perth
Ishbel McLachlan, Law Graduate, Clifford Chance, Perth