RE THE JOINT AND SEVERAL LIQUIDATORS OF PACIFIC ANDES ENTERPRISES (BVI) LTD

RE THE JOINT AND SEVERAL LIQUIDATORS OF PACIFIC ANDES ENTERPRISES (BVI) LTD

The court granted recognition and assistance to the BVI liquidators and authorised them to request and receive from third parties documents and information concerning the companies and their promotion, formation, business dealings, accounts, assets, liabilities or affairs and to exercise ancillary powers in Hong Kong, but declined to grant wording that would be read as creating a unilateral compulsion on third parties to produce documents without a further order under section 221(3) Cap 32 (which is to be sought inter partes).

Citation
RE THE JOINT AND SEVERAL LIQUIDATORS OF PACIFIC ANDES ENTERPRISES (BVI) LTD
Parties
Joint and Several Liquidators (applicants): Nicholas Gronow; Ian Morton; Joshua Taylor (FTI Consulting); Company in Liquidation (respondent): Pacific Andes Enterprises (BVI) Limited; Company in Liquidation (respondent): PARD Trade Limited; Company in Liquidation (respondent): Parkmond Group Limited; Company in Provisional Liquidation (respondent): Solar Fish Trading Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
27 January 2017
Case Number
HCMP3560/2016
Procedural Posture
Recognition and Assistance of Foreign Liquidators Pursuant to Letters of Request / Chambers Decision on Written Applications Following Letters of Request
Outcome
Applications granted in part; recognition and assistance orders issued with limits on compulsory powers
Legal Topics
Recognition of Foreign Insolvency Appointments, Letters of Request, Third‑party Disclosure, Section 221 Applications, Cross‑border Asset Recovery
Source Language
EN
Insolvency Law Company Law Private International Law Civil Procedure Recognition of Foreign Insolvency Appointments Letters of Request Third‑party Disclosure Section 221 Applications +1 more

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Parties

Nicholas Gronow; Ian Morton; Joshua Taylor (FTI Consulting)

Joint and Several Liquidators (applicants)

Pacific Andes Enterprises (BVI) Limited

Company in Liquidation (respondent)

PARD Trade Limited

Company in Liquidation (respondent)

Parkmond Group Limited

Company in Liquidation (respondent)

Solar Fish Trading Limited

Company in Provisional Liquidation (respondent)

Procedural Posture

Recognition and Assistance of Foreign Liquidators Pursuant to Letters of Request / Chambers Decision on Written Applications Following Letters of Request

Legal Issues

  1. 1 Whether the Hong Kong Court should recognise and assist liquidators appointed by the BVI court
  2. 2 Whether the liquidators may obtain documents and information from third parties in Hong Kong and the scope of that power
  3. 3 Whether wording sought by liquidators would impermissibly create a compulsion on third parties absent an order under section 221(3) Cap 32

Ratio Decidendi

The court granted recognition and assistance to the BVI liquidators and authorised them to request and receive from third parties documents and information concerning the companies and their promotion, formation, business dealings, accounts, assets, liabilities or affairs and to exercise ancillary powers in Hong Kong, but declined to grant wording that would be read as creating a unilateral compulsion on third parties to produce documents without a further order under section 221(3) Cap 32 (which is to be sought inter partes).

Court Disposition

Applications granted in part; recognition and assistance orders issued with limits on compulsory powers

Orders

  • Liquidators appointed by the East Caribbean Supreme Court are recognised and may exercise in Hong Kong such powers as are available to them under BVI law insofar as consistent with Hong Kong law.
  • Liquidators are authorised to request and receive from third parties documents and information concerning the Company and its promotion, formation, business dealings, accounts, assets, liabilities or affairs including matters relevant to the cause of insolvency.