張才奎所託管中國山水投資有限公司股份及另一人 v. 張才奎及另一人

張才奎所託管中國山水投資有限公司股份及另一人 v. 張才奎及另一人

The judge applied the correct standard for leave to appeal and the well-established principles governing appellate review of interlocutory discretionary orders, found that the 1st defendant's grounds did not have reasonable prospects of success on the facts and law before the court, held that the appointment of...

Source-derived case information.

Citation
張才奎所託管中國山水投資有限公司股份及另一人 v. 張才奎及另一人
Parties
Plaintiffs: 1st and 2nd Plaintiffs; 1st Defendant: 1st Defendant; 2nd Defendant: 2nd Defendant; Receivers: Joint and Several Receivers of the shares in China Shanshui Investment Co Ltd
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
17 June 2015
Case Number
HCA939/2015
Procedural Posture
Interlocutory Application for Appointment of Receivers; Applications for Leave to Appeal and for Stay Pending Appeal / Application for Leave to Appeal Against Interlocutory Receivership Order and Related Stay Applications
Outcome
Applications for leave to appeal and for stay of execution dismissed; order nisi that the 1st defendant pay the plaintiffs' costs of these applications with a certificate for two counsel; direction to receivers not to alter the composition of the board of Shanshui Cement without further court directions.
Legal Topics
Appointment of Receivers, Leave to Appeal (s14 Aa(4)(a)), Stay Pending Appeal, Discretionary Trusts, Interlocutory Injunctions, Costs
Source Language
en
Trusts Receivership Civil Procedure Company Law Injunctions Appointment of Receivers Leave to Appeal (s14 Aa(4)(a)) Stay Pending Appeal +3 more

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Parties

1st and 2nd Plaintiffs

Plaintiffs

1st Defendant

1st Defendant

2nd Defendant

2nd Defendant

Joint and Several Receivers of the shares in China Shanshui Investment Co Ltd

Receivers

Procedural Posture

Interlocutory Application for Appointment of Receivers; Applications for Leave to Appeal and for Stay Pending Appeal / Application for Leave to Appeal Against Interlocutory Receivership Order and Related Stay Applications

Legal Issues

  1. 1 Whether leave to appeal should be granted under s14AA(4)(a)
  2. 2 Whether the judge misapprehended the 1st defendant's case on entitlement
  3. 3 Whether the judge impermissibly conducted a mini-trial on affidavit

Ratio Decidendi

The judge applied the correct standard for leave to appeal and the well-established principles governing appellate review of interlocutory discretionary orders, found that the 1st defendant's grounds did not have reasonable prospects of success on the facts and law before the court, held that the appointment of receivers was justified by demonstrated risks (including unexplained significant cash decreases) and was the appropriate and proportionate remedy, and directed that receivers should not alter the board of Shanshui Cement without court directions; accordingly leave and stay applications were dismissed and costs were ordered against the 1st defendant.

Court Disposition

Applications for leave to appeal and for stay of execution dismissed; order nisi that the 1st defendant pay the plaintiffs' costs of these applications with a certificate for two counsel; direction to receivers not to alter the composition of the board of Shanshui Cement without further court directions.

Orders

  • Applications for leave to appeal dismissed
  • Applications for stay pending appeal dismissed