KWOK HO WAN & Ors v UBS AG (LONDON BRANCH)

KWOK HO WAN & Ors v UBS AG (LONDON BRANCH)

Permission to appeal is granted on grounds 2 to 5 due to the lack of clarity in the authorities and the real prospect that another judge may decide differently. Costs are awarded at 85% of the total sought, to be paid within 14 days.

Parties
Claimant/respondent: Kwok Ho Wan; Claimant/respondent: Ace Decade Holdings Limited; Claimant/respondent: Dawn State Limited; Defendant/applicant: UBS AG (London Branch)
Jurisdiction
England and Wales
Judgment Date
25 February 2022
Procedural Posture
Commercial / Permission to Appeal and Costs Ruling
Outcome
permission to appeal granted on grounds 2 to 5; costs awarded at 85%
Legal Topics
Jurisdiction, Costs, Appeal Procedure
Commercial Law Civil Procedure Jurisdiction Costs Appeal Procedure

Case Brief

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Parties

Kwok Ho Wan

Claimant/respondent

Ace Decade Holdings Limited

Claimant/respondent

Dawn State Limited

Claimant/respondent

UBS AG (London Branch)

Defendant/applicant

Procedural Posture

Commercial / Permission to Appeal and Costs Ruling

Legal Issues

  1. 1 Whether permission to appeal should be granted on grounds 2 to 5 regarding jurisdictional issues under Article 5.3 and 5.5
  2. 2 Appropriate percentage of costs to be awarded

Ratio Decidendi

Permission to appeal is granted on grounds 2 to 5 due to the lack of clarity in the authorities and the real prospect that another judge may decide differently. Costs are awarded at 85% of the total sought, to be paid within 14 days.

Court Disposition

permission to appeal granted on grounds 2 to 5; costs awarded at 85%

Orders

  • Permission to appeal granted on grounds 2 to 5
  • Costs awarded at 85% of the total sought, payable within 14 days