OSK ASIA FUTURES LTD v. LAM CHI BIN STANLEY AND ANOTHER

OSK ASIA FUTURES LTD v. LAM CHI BIN STANLEY AND ANOTHER

The court found beyond reasonable doubt that the debtor deliberately concealed and gave incredible explanations concerning the HK$34,000,000 investment in the Kam Pik Garden project (fabricating a Zhen Jiang company story and failing to produce corroborating documentation), but did not accept beyond reasonable doubt the allegations relating to the Standard Chartered account and various deposits which had plausible explanations; accordingly committal for one month was ordered under Order 49B(1B)(1)(c).

Citation
OSK ASIA FUTURES LTD v. LAM CHI BIN STANLEY AND ANOTHER
Parties
Plaintiff (judgment Creditor): OSK Asia Futures Limited; 1st Defendant (judgment Debtor): Lam Chi Bin Stanley; 2nd Defendant: ASG Futures Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
13 July 2002
Case Number
HCA10335/2000
Procedural Posture
Judgment Enforcement — Examination of Judgment Debtor Under Order 49 B / Post‑judgment Examination and Committal Application
Outcome
Committal order made: debtor imprisoned for 1 month; allowance fixed; costs orders nisi made
Legal Topics
Order 49 B Disclosure, Committal for Failure to Disclose, Discovery of Bank Accounts, Assets Tracing, Costs
Source Language
EN
Civil Procedure Enforcement of Judgments Banking and Securities Order 49 B Disclosure Committal for Failure to Disclose Discovery of Bank Accounts Assets Tracing Costs

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 2 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

OSK Asia Futures Limited

Plaintiff (judgment Creditor)

Lam Chi Bin Stanley

1st Defendant (judgment Debtor)

ASG Futures Limited

2nd Defendant

Procedural Posture

Judgment Enforcement — Examination of Judgment Debtor Under Order 49 B / Post‑judgment Examination and Committal Application

Legal Issues

  1. 1 Whether the judgment debtor willfully failed to make full disclosure of assets, liabilities, income and expenditure under Order 49B(1A)(2)
  2. 2 Whether the failure to disclose was proved beyond reasonable doubt as required for committal under Order 49B(1B)(1)(c)
  3. 3 Sufficiency and credibility of evidence as to the Shanghai property investment (Kam Pik Garden)

Ratio Decidendi

The court found beyond reasonable doubt that the debtor deliberately concealed and gave incredible explanations concerning the HK$34,000,000 investment in the Kam Pik Garden project (fabricating a Zhen Jiang company story and failing to produce corroborating documentation), but did not accept beyond reasonable doubt the allegations relating to the Standard Chartered account and various deposits which had plausible explanations; accordingly committal for one month was ordered under Order 49B(1B)(1)(c).

Court Disposition

Committal order made: debtor imprisoned for 1 month; allowance fixed; costs orders nisi made

Orders

  • Debtor to be imprisoned for 1 month under Order 49B rule 1B(1)(c) of the Rules of the High Court
  • Allowance fixed at HK$650.00 per day under rule 2