上海聚芈投資管理中心AND ANTOHER v. SUNFUND INVESTMENT & MANAGEMENT CO LTD AND ANOTHER

上海聚芈投資管理中心AND ANTOHER v. SUNFUND INVESTMENT & MANAGEMENT CO LTD AND ANOTHER

The injunctions were discharged because plaintiffs failed to establish the Chabra jurisdiction (evidence showed payments were capital injections and not shareholder loans making SIM a debtor of SHK rather than vice versa), failed to demonstrate a real risk of dissipation, and committed material...

Source-derived case information.

Citation
[2020] HKCFI 236
Parties
Plaintiffs: Plaintiffs; 1st Defendant: SIM; 2nd Defendant: SHK
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
20 January 2020
Case Number
HCMP2096/2018
Procedural Posture
Miscellaneous Proceedings (chabra Injunctions Ancillary to Mainland Debt Recovery) / Application to Continue/discharge Ex Parte Injunctions; Final Decision Refusing Continuation and Discharging Injunctions
Outcome
Injunctions discharged; court declined to re‑grant injunctions
Legal Topics
Chabra Injunction, Mareva/injunctive Freezing Orders, Ex Parte Applications, Duty of Full and Frank Disclosure, Risk of Dissipation, Service Out of Jurisdiction Principles
Source Language
en
Civil Litigation Injunctive Relief Company Law Cross Border Enforcement Procedural Law Chabra Injunction Mareva/injunctive Freezing Orders Ex Parte Applications +3 more

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Summary, issues, holding and outcome

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Parties

Plaintiffs

Plaintiffs

SIM

1st Defendant

SHK

2nd Defendant

Procedural Posture

Miscellaneous Proceedings (chabra Injunctions Ancillary to Mainland Debt Recovery) / Application to Continue/discharge Ex Parte Injunctions; Final Decision Refusing Continuation and Discharging Injunctions

Legal Issues

  1. 1 Whether the Chabra jurisdiction was properly established against the 2nd defendant (SHK)
  2. 2 Whether there was a real risk of dissipation of assets justify continuation of ex parte injunctions
  3. 3 Whether plaintiffs made full and frank disclosure in the ex parte application (provenance of Online Record)

Ratio Decidendi

The injunctions were discharged because plaintiffs failed to establish the Chabra jurisdiction (evidence showed payments were capital injections and not shareholder loans making SIM a debtor of SHK rather than vice versa), failed to demonstrate a real risk of dissipation, and committed material non‑disclosure/misleading presentation regarding the provenance and contents of the Online Record; in those circumstances the Court declined to re‑grant the injunctions and ordered costs against the plaintiffs.

Court Disposition

Injunctions discharged; court declined to re‑grant injunctions

Orders

  • The ex parte Chabra injunctions are discharged
  • Costs of the application for the injunctions and their discharge to be paid by the Plaintiffs to SHK with Certificate for 2 counsel