DesVoeuxChambers

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

The Competition Tribunal Exercising Firm Grip On Case Management Powers

02 November 2018

The Competition Tribunal in the recent case of Competition Commission v. W. Hing Construction Company Limited & Ors [2018] HKCT 6 exercised robust case management power. It dismissed the 4th Respondent’s last minute application at the PTR for what was “virtually a wholesale substitution” of the original pleaded Response and the introduction of three proposed new witness statements in support of the new case. The Tribunal held that notwithstanding the... Click here to read more

Cross-Border Scheme of Arrangement for Secured Noteholders: Re Mongolian Mining Corporation

11 September 2018

Re Mongolian Mining Corporation [2018] HKCFI 2035 - the latest case on restructuring foreign companies' foreign law-governed debts involving DVC's José-Antonio Maurellet SC, Yang-Wahn Hew and Jason Yu. Read on to find out whether there was sufficient connection between the Scheme and Hong Kong. In Re Mongolian Mining Corporation [2018] HKCFI 2035, the court sanctioned a scheme of arrangement which was part of a larger restructuring exercise involving a Cayman scheme... Click here to read more

Hong Kong Provisional Liquidation Meets Singapore Moratorium: Re CW Advanced Technologies Limited

20 July 2018

In a ground-breaking decision, the Hong Kong Court in Re CW Advanced Technologies Limited [2018] HKCFI 1705 explains: (a) the interface between the Hong Kong provisional liquidation regime and Singapore’s new insolvency regime; and (b) how both regimes could work in tandem to help restructure a Singapore-based pan-Asian business group. Background The matter concerns the CW Group which... Click here to read more

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