HWANG DA-LIN AND ANOTHER v. WONG CHUNG KEUNG AND OTHERS

HWANG DA-LIN AND ANOTHER v. WONG CHUNG KEUNG AND OTHERS

The court directed that no formal amendment was necessary because the order had not been drawn up; it directed the correct unit price to be HK$55.859 and authorised the Receivers and Managers to use company funds to acquire 20,000 shares of WONG SHI HOI, CARSON and 10,000 shares of HWANG DA-LIN at HK$55.859 per share, extended completion time to 14 days, ordered that the costs of the summons be borne by the Petitioners as they caused the clerical error, and ordered that any stamp duty payable be borne in the first instance by the Company and reimbursed by the Respondents.

Citation
HWANG DA-LIN AND ANOTHER v. WONG CHUNG KEUNG AND OTHERS
Parties
1st Petitioner: HWANG DA-LIN; 2nd Petitioner: WONG SHI HOI, CARSON; 1st Respondent: WONG CHUNG KEUNG sued as the sole executor of the Estate of WONG CHING MAN, deceased; 2nd Respondent: WONG CHUNG KEUNG; 3rd Respondent: TAI LAP INVESTMENT COMPANY LIMITED
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
10 May 2001
Case Number
HCCW643/1996
Procedural Posture
Companies (winding Up) / Application to Amend Order (clerical Error) — Summons Hearing/decision
Outcome
Summons granted in part: directions issued to correct the clerical error regarding unit price and to authorise the share acquisition; costs and stamp duty allocated as directed.
Legal Topics
Receivers and Managers, Amendment of Court Order, Costs Allocation, Stamp Duty Allocation, Share Transfer Pricing
Source Language
EN
Company Law Insolvency Civil Procedure Tax (stamp Duty) Receivers and Managers Amendment of Court Order Costs Allocation Stamp Duty Allocation +1 more

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Parties

HWANG DA-LIN

1st Petitioner

WONG SHI HOI, CARSON

2nd Petitioner

WONG CHUNG KEUNG sued as the sole executor of the Estate of WONG CHING MAN, deceased

1st Respondent

WONG CHUNG KEUNG

2nd Respondent

TAI LAP INVESTMENT COMPANY LIMITED

3rd Respondent

Procedural Posture

Companies (winding Up) / Application to Amend Order (clerical Error) — Summons Hearing/decision

Legal Issues

  1. 1 Whether the court should correct a clerical error in the unit price in the order of 29 March 2001
  2. 2 Whether the Receivers and Managers should be authorised to use company funds to acquire specified shares at the corrected price
  3. 3 Who should bear the costs of the summons given the source of the clerical error

Ratio Decidendi

The court directed that no formal amendment was necessary because the order had not been drawn up; it directed the correct unit price to be HK$55.859 and authorised the Receivers and Managers to use company funds to acquire 20,000 shares of WONG SHI HOI, CARSON and 10,000 shares of HWANG DA-LIN at HK$55.859 per share, extended completion time to 14 days, ordered that the costs of the summons be borne by the Petitioners as they caused the clerical error, and ordered that any stamp duty payable be borne in the first instance by the Company and reimbursed by the Respondents.

Court Disposition

Summons granted in part: directions issued to correct the clerical error regarding unit price and to authorise the share acquisition; costs and stamp duty allocated as directed.

Orders

  • The unit price for the shares in the order to be drawn up is HK$55.859 per share.
  • The Receivers and Managers are authorised to utilise the money deposited in the account of the Company to enable the Company to acquire 20,000 of WONG SHI HOI, CARSON's shares and 10,000 of HWANG DA-LIN's shares at HK$55.859 per share.