Simon Finlayson Kidd v. China Sail Factory Ltd. and Others

Simon Finlayson Kidd v. China Sail Factory Ltd. and Others

Given the Petitioner is non-resident, provided no responsive affidavit, and evidence suggested his shares had negative net value and unpaid capital, the court exercised its discretion to order security for costs: HK$300,000 immediately with staged further security of HK$200,000 if the hearing is restored; proceedings stayed until security furnished.

Citation
Simon Finlayson Kidd v. China Sail Factory Ltd. and Others
Parties
Petitioner: Simon Finlayson Kidd; 1st Respondent: China Sail Factory Limited; 2nd Respondent: John A. Brodie; 3rd Respondent: Athanasios Kondylis
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
23 September 1999
Case Number
HCMP3353/1999
Procedural Posture
Companies Petition / Miscellaneous Proceedings Under Companies Ordinance / Application for Security for Costs (interim)
Outcome
Security for costs ordered; proceedings stayed; hearing vacated pending security; staged further security if hearing restored.
Legal Topics
Security for Costs, Companies Ordinance Sections 177(1) and 168 a, Stay of Proceedings
Source Language
EN
Company Law Civil Procedure Costs Security for Costs Companies Ordinance Sections 177(1) and 168 a Stay of Proceedings

Case Brief

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Parties

Simon Finlayson Kidd

Petitioner

China Sail Factory Limited

1st Respondent

John A. Brodie

2nd Respondent

Athanasios Kondylis

3rd Respondent

Procedural Posture

Companies Petition / Miscellaneous Proceedings Under Companies Ordinance / Application for Security for Costs (interim)

Legal Issues

  1. 1 Whether security for costs should be ordered against a non-resident petitioner
  2. 2 Appropriate amount and staging of security
  3. 3 Whether proceedings should be stayed pending provision of security

Ratio Decidendi

Given the Petitioner is non-resident, provided no responsive affidavit, and evidence suggested his shares had negative net value and unpaid capital, the court exercised its discretion to order security for costs: HK$300,000 immediately with staged further security of HK$200,000 if the hearing is restored; proceedings stayed until security furnished.

Court Disposition

Security for costs ordered; proceedings stayed; hearing vacated pending security; staged further security if hearing restored.

Orders

  • Petitioner to furnish within 21 days security of HK$300,000 by payment into Court or by bank guarantee approved by the Master.
  • Proceedings stayed pending provision of the security.