BEATRICE TSANG SAU HING AND ANOTHER v. YUENG MAN LOONG MAXLY AND OTHERS

BEATRICE TSANG SAU HING AND ANOTHER v. YUENG MAN LOONG MAXLY AND OTHERS

The Yeungs must pay the Tsangs' costs of the petitions on the party and party basis and must pay the Tsangs' costs of the cross‑petitions to be taxed on the indemnity basis; the provisional liquidators' remuneration and expenses are not to be ordered against the Yeungs personally and are to be borne by the companies; no order as to costs of the costs hearing itself.

Citation
BEATRICE TSANG SAU HING AND ANOTHER v. YUENG MAN LOONG MAXLY AND OTHERS
Parties
1st Petitioner (hccw 49 52/2006); 1st Respondent (hccw 130 133/2007): Beatrice Tsang Sau Hing; 2nd Petitioner (hccw 49 52/2006); 2nd Respondent (hccw 130 133/2007): Luana Tsang Sau Kuen; 1st Respondent (hccw 49 52/2006); 1st Petitioner (hccw 130 133/2007): Yueng Man Loong Maxly; 2nd Respondent (hccw 49 52/2006); 2nd Petitioner (hccw 130 133/2007): Yeung Man Fung; 3rd Respondent (hccw 49 52/2006): Lo Wai Yin; 4th Respondent (hccw 49 52/2006): Yeung Tung Shing; 5th Respondent (hccw 49/2006); 4th Respondent (hccw 130/2007): Gold Pleasure Industrial Company Limited; 5th Respondent (hccw 50/2006); 4th Respondent (hccw 131/2007): Topville Industrial Company Limited; 5th Respondent (hccw 51/2006); 4th Respondent (hccw 132/2007): Sunville Investment Company Limited; 5th Respondent (hccw 52/2006); 4th Respondent (hccw 133/2007): Boville Industrial Company Limited; 3rd Respondent (hccw 130 133/2007): Tsang Hon Kong; Provisional Liquidator: Derek Lai; Provisional Liquidator: Darach Haughey
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
12 March 2008
Case Number
HCCW50/2006
Procedural Posture
Companies (winding‑up) Petitions and Cross‑petitions Under Companies Ordinance / Post‑trial Costs Hearing and Judgment on Costs (post‑judgment)
Outcome
Costs awarded in favour of Tsangs: costs of Tsangs' petitions taxed on party and party basis; costs of Yeungs' cross‑petitions paid to Tsangs and taxed on indemnity basis; provisional liquidators' fees and expenses to be borne by the companies; no order as to costs of the costs hearing.
Legal Topics
Winding‑up Petitions, Just and Equitable Winding Up (s.177(1)(f)), Unfair Prejudice / Buy‑out (s.168 A), Indemnity Costs Vs Party and Party Taxation, Provisional Liquidators' Remuneration
Source Language
EN
Company Law Insolvency Law Civil Procedure Costs Law Winding‑up Petitions Just and Equitable Winding Up (s.177(1)(f)) Unfair Prejudice / Buy‑out (s.168 A) Indemnity Costs Vs Party and Party Taxation +1 more

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Parties

Beatrice Tsang Sau Hing

1st Petitioner (hccw 49 52/2006); 1st Respondent (hccw 130 133/2007)

Luana Tsang Sau Kuen

2nd Petitioner (hccw 49 52/2006); 2nd Respondent (hccw 130 133/2007)

Yueng Man Loong Maxly

1st Respondent (hccw 49 52/2006); 1st Petitioner (hccw 130 133/2007)

Yeung Man Fung

2nd Respondent (hccw 49 52/2006); 2nd Petitioner (hccw 130 133/2007)

Lo Wai Yin

3rd Respondent (hccw 49 52/2006)

Yeung Tung Shing

4th Respondent (hccw 49 52/2006)

Gold Pleasure Industrial Company Limited

5th Respondent (hccw 49/2006); 4th Respondent (hccw 130/2007)

Topville Industrial Company Limited

5th Respondent (hccw 50/2006); 4th Respondent (hccw 131/2007)

Sunville Investment Company Limited

5th Respondent (hccw 51/2006); 4th Respondent (hccw 132/2007)

Boville Industrial Company Limited

5th Respondent (hccw 52/2006); 4th Respondent (hccw 133/2007)

Tsang Hon Kong

3rd Respondent (hccw 130 133/2007)

Derek Lai

Provisional Liquidator

Darach Haughey

Provisional Liquidator

Procedural Posture

Companies (winding‑up) Petitions and Cross‑petitions Under Companies Ordinance / Post‑trial Costs Hearing and Judgment on Costs (post‑judgment)

Legal Issues

  1. 1 Whether costs should follow the event or be otherwise apportioned
  2. 2 Whether costs of the Tsangs petitions should be taxed on indemnity basis or party and party basis
  3. 3 Whether costs of the Yeungs cross‑petitions should be taxed on indemnity basis

Ratio Decidendi

The Yeungs must pay the Tsangs' costs of the petitions on the party and party basis and must pay the Tsangs' costs of the cross‑petitions to be taxed on the indemnity basis; the provisional liquidators' remuneration and expenses are not to be ordered against the Yeungs personally and are to be borne by the companies; no order as to costs of the costs hearing itself.

Court Disposition

Costs awarded in favour of Tsangs: costs of Tsangs' petitions taxed on party and party basis; costs of Yeungs' cross‑petitions paid to Tsangs and taxed on indemnity basis; provisional liquidators' fees and expenses to be borne by the companies; no order as to costs of the costs hearing.

Orders

  • The Yeungs shall pay the Tsangs the costs of the Tsangs' petitions to be taxed on the party and party basis if not agreed
  • The Yeungs shall pay the Tsangs the costs of the Yeungs' cross‑petitions to be taxed on the indemnity basis in default of agreement