DesVoeuxChambers

Blessings And Burdens

17 July 2019

This recent High Court case sheds light on the difficulties associated with challenging the validity of an enduring power of attorney: To Lee Wah Samuel v. Yum Huin Ming and Another [2019] HKCFI 1441 This case concerned two enduring powers of attorney, the validity of which were challenged by the Plaintiff. This decision appeared to be the first ever reported decision where the Hong Kong court considered (a) the legal requirements... Click here to read more

Message to Official Receiver – Discharging Regulating Order and Replacing Liquidators: Cai Shuyi v Joint and Several Liquidators of Blockchain Group Co Ltd [2019] HKCFI 1522

05 July 2019

The Blockchain decision seems to be the first ever reported decision where the Court discharged a regulating order and replaced the liquidators in accordance with the majority creditors’ wishes. It indirectly sends a message to the Official Receiver (“OR”) that an application for a regulating order should not be lightly made. Background Sections 227A and 227B of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) (“CWUMPO”) confer on... Click here to read more

The Diesel Cases: Hiving Off a Competition Defence to the Competition Tribunal? Procedural Considerations at the Case Management Stage

14 June 2019

Taching Petroleum Company Limited v Meyer Aluminium Limited (unreported, CTA 1/2018 & CTA 2/2018, [2019] HKCT 1, 22.2.2019) and Taching Petroleum Company Limited v Meyer Aluminium Limited (unreported, HCA 1929/2017 & HCA 1069/2018, [2019] HKCFI 515, 22.2.2019) This is the first case in which a competition law defence was raised in a civil litigation, culminating in interesting and novel issues on both procedural and substantive fronts. Background The Plaintiffs in... Click here to read more

Competition Bid-rigging in Hong Kong: tip of the iceberg?

20 May 2019

What is the Hong Kong Competition Tribunal’s Approach in Dealing with Enforcement Actions Concerning Bid-Rigging and Market Sharing and Price Fixing? Find out in two landmark decisions handed down on 17.5.2019 under the new competition regime featuring 3 members from DVC including Catrina Lam, Connie Lee and Tommy Cheung. The Competition Tribunal ruled that the criminal standard of proof applies in enforcement actions seeking a pecuniary penalty for contravention of... Click here to read more

You can’t have your cake and eat it: the progressive case of Dickson Valora Group (Holdings) Co Ltd and another v Fan Ji Qian [2019] HKCFI 482

06 May 2019

This case involved 6 members from DVC By Rachel Lam, Terrence Tai and Jasmine Cheung In the recent innovative case of Dickson Valora Group (Holdings) Co Ltd and another v Fan Ji Qian [2019] HKCFI 482, the Court was faced with a groundbreaking application for an anti-suit injunction, whereby the Hong Kong Court was invited to (and did) injunct proceedings in the PRC on a novel basis. Facts The 1st... Click here to read more

Testing the waters: Are Team-Based Commissions and Bonuses Deductible from Employees’ Statutory Entitlements?

18 April 2019

Pioneering a new path, this recent novel decision in Mak Wai Man & Ors v. Richfield Realty Limited [2019] HKDC 358 applied sections 35(4), 41(6) and 41C (6) of the Employment Ordinance for the first time since their enactment. The Decision The Court held that Team-Based Commission/Bonus paid already covered statutory entitlements of holiday pay, sickness allowance and annual leave and should accordingly be deducted. This was the re-trial of... Click here to read more

Director’s Right to Inspect Documents: What constitutes ‘improper purpose’ as decided in Yung Siu Wa v Raffles Family Office Limited [2018] HKCFI 2620

02 January 2019

Pioneering a new conversation around the issue of ‘improper purpose’ in the context of a director’s right to inspect documents, this recent decision clarifies what “improper purpose” really means. This recent decision is one of the first cases in Hong Kong where the companies successfully resisted a director’s application to inspect documents on the ground that the application was made for an improper purpose, even though such a purpose did... Click here to read more

Flexible Application of Pari Passu in Cross-Border Insolvency: Re Guangdong International Trust & Investment Corporation Hong Kong (Holdings) Ltd [2018] HKCFI 2498

16 November 2018

In the ground-breaking case of Re Guangdong International Trust & Investment Corporation Hong Kong (Holdings) Ltd [2018] HKCFI 2498 (“GITIC”), the Court held that the principle of pari passu distribution may be applied flexibly to distribute the insolvent estate’s assets in Hong Kong and abroad. The factual context Guangdong International Trust & Investment Corporation Hong Kong (Holdings) Limited (“Company”) was in the final stages of its liquidation which started in... Click here to read more

PT Tugu Pratama Indonesia v Citibank N.A. [2018] HKCFI 2233

14 November 2018

In PT Tugu Pratama Indonesia v Citibank N.A. [2018] HKCFI 2233 (12 October 2018), the Court of First Instance clarified the banker-customer duty in relation to the bank’s role as a paying agent. The Court also decided on a number of points concerning the defence of limitation. The facts and decision The Plaintiff was the largest insurance company in Indonesia in the 1990s. It was founded in November 1981 by... Click here to read more

Scheme of Arrangement and Bondholders’ Votes – Split Voting and Voting as Contingent Creditors

10 November 2018

Recent Hong Kong, Singapore and English cases have converged and re-confirmed how bondholders vote in schemes of arrangement where the bonds are issued in global form. The position in summary is as follows: (a) if the bond trustee votes, a split-vote approach respecting the underlying beneficial bondholders’ wishes is to be adopted such that: (i) for the purposes of the headcount test, the trustee’s... Click here to read more

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