A High Court judge yesterday ordered Digital Broadcasting Corp to release documents about the radio station to chairman and major shareholder Bill Wong Cho-bau.
Justice Jonathan Harris said it was inconceivable for a director to be unable to gain access to papers detailing a firm's financial situation.
He said the company should simply tell Wong where they are and allow him unrestricted access.
However, lawyer Daniel Fung Wah-kin said his client has been denied access despite making repeated requests since July.
But Victor Dawes, for DBC founder Albert Cheng King-hon and chief executive Maurice Ho Kwok-fai, said more time is needed to get the documents ready.
A deal was struck with the two officials to let Wong see those concerning accounts and employment contracts, between September 11-21.
Cheng and Ho will submit an affidavit to confirm any missing documents.
Wong, a member of the Chinese People's Political Consultative Conference, holds a 20percent stake in DBC, while Cheng and Ho together control 30percent.
Up to HK$150 million has so far been invested in the company and trouble started when management, headed by Cheng, asked for HK$50 million more.
Wong and the stakeholders rejected the request, claiming Cheng refused to reveal the company's financial situation, something which the latter denies.