STEPHEN LIU YIU KEUNG v. WINKO MOTOR INDUSTRIES LTD

STEPHEN LIU YIU KEUNG v. WINKO MOTOR INDUSTRIES LTD

Adjournment refused because defendants failed to show a reasonably arguable defence capable of setting aside the registered legal charges; the asserted failure of consideration does not justify discharge of securities and related pleadings were inconsistent with earlier restructuring proceedings; defendants failed...

Source-derived case information.

Citation
STEPHEN LIU YIU KEUNG v. WINKO MOTOR INDUSTRIES LTD
Parties
Plaintiff (receiver): STPEHEN LIU YIU KEUNG; Defendant: AKAN GROUP LIMITED; Defendant: OPEN SHARE INVESTMENTS LIMITED; Defendant: WINKO MOTOR INDUSTRIES LIMITED
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
24 August 2004
Case Number
HCA929/2004
Procedural Posture
Civil Possession/declaration/interlocutory Injunction; Summary Judgment (order 14) / Application to Adjourn Order 14 Hearing; Decision on Adjournment
Outcome
Applications for adjournment dismissed
Legal Topics
Tenancy Agreements, Legal Charges/mortgages, Summary Judgment, Interlocutory Injunction, Adjournment, Receiver's Rights, Failure of Consideration/rescission
Source Language
en
Property Law Civil Procedure Equity Insolvency/receivership Tenancy Agreements Legal Charges/mortgages Summary Judgment Interlocutory Injunction +3 more

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Parties

STPEHEN LIU YIU KEUNG

Plaintiff (receiver)

AKAN GROUP LIMITED

Defendant

OPEN SHARE INVESTMENTS LIMITED

Defendant

WINKO MOTOR INDUSTRIES LIMITED

Defendant

Procedural Posture

Civil Possession/declaration/interlocutory Injunction; Summary Judgment (order 14) / Application to Adjourn Order 14 Hearing; Decision on Adjournment

Legal Issues

  1. 1 Whether the defendants should be granted an adjournment to file evidence in opposition to the plaintiff's summary judgment/interlocutory injunction applications
  2. 2 Whether the defendants' pleaded basis for setting aside the registered legal charges (alleged failure to advance agreed facilities) is legally tenable
  3. 3 Whether the tenancy agreements are binding given the registered legal charges and lack of bank consent

Ratio Decidendi

Adjournment refused because defendants failed to show a reasonably arguable defence capable of setting aside the registered legal charges; the asserted failure of consideration does not justify discharge of securities and related pleadings were inconsistent with earlier restructuring proceedings; defendants failed to demonstrate the adjournment would be productive and granting it would cause real prejudice to the plaintiff.

Court Disposition

Applications for adjournment dismissed

Orders

  • Dismissed defendants' summonses for adjournment in HCA 926, 928 & 929/2004
  • Costs to be paid by the defendants to the plaintiff in any event, to be taxed if not agreed