NG YAT CHI AND ANOTHER v. CHINA RESOURCES (HOLDINGS) CO LTD AND OTHERS

NG YAT CHI AND ANOTHER v. CHINA RESOURCES (HOLDINGS) CO LTD AND OTHERS

The court held that the strike-out dismissal and costs order in favour of the 1st to 3rd defendants constituted a final judgment for the purpose of enforcement by charging order; there was no live appeal affecting that judgment and the Registrar's order making the charging order absolute must stand; accordingly the appeal was dismissed and costs awarded to the 1st to 3rd defendants.

Citation
NG YAT CHI AND ANOTHER v. CHINA RESOURCES (HOLDINGS) CO LTD AND OTHERS
Parties
1st Plaintiff: Ng Yat Chi; 2nd Plaintiff: Choy Bing Wing; 1st Defendant: China Resources (Holdings) Company Limited; 2nd Defendant: Max Share Limited; 3rd Defendant: China Resources Enterprises Limited (Stock Code 291); 4th Defendant: Securities & Futures Commission
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
15 September 2006
Case Number
HCA424/2005
Procedural Posture
Civil Action (costs Enforcement; Application to Make Charging Order Absolute) / Appeal by Rehearing Against Registrar's Order on Charging Order (hearing and Judgment at Court of First Instance)
Outcome
Appeal dismissed; Registrar's order granting charging order made absolute and costs awarded to the 1st to 3rd defendants
Legal Topics
Charging Order, Restricted Proceedings Order, Security for Costs, Strike Out, Abuse of Process, Finality of Judgment
Source Language
EN
Civil Procedure Enforcement of Judgments Costs Property Law Appeal and Review Charging Order Restricted Proceedings Order Security for Costs +3 more

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Parties

Ng Yat Chi

1st Plaintiff

Choy Bing Wing

2nd Plaintiff

China Resources (Holdings) Company Limited

1st Defendant

Max Share Limited

2nd Defendant

China Resources Enterprises Limited (Stock Code 291)

3rd Defendant

Securities & Futures Commission

4th Defendant

Procedural Posture

Civil Action (costs Enforcement; Application to Make Charging Order Absolute) / Appeal by Rehearing Against Registrar's Order on Charging Order (hearing and Judgment at Court of First Instance)

Legal Issues

  1. 1 Whether a charging order may be made absolute where the underlying judgment is said to be non-final or affected by a pending related appeal
  2. 2 Whether the judgment dismissing the claim after strike-out constituted a final judgment for the purpose of enforcement by charging order
  3. 3 Whether alleged irregularity/fraud in the judgment transcript precludes enforcement of the judgment by charging order

Ratio Decidendi

The court held that the strike-out dismissal and costs order in favour of the 1st to 3rd defendants constituted a final judgment for the purpose of enforcement by charging order; there was no live appeal affecting that judgment and the Registrar's order making the charging order absolute must stand; accordingly the appeal was dismissed and costs awarded to the 1st to 3rd defendants.

Court Disposition

Appeal dismissed; Registrar's order granting charging order made absolute and costs awarded to the 1st to 3rd defendants

Orders

  • Appeal dismissed
  • Order of the Registrar dated 29 August 2006 granting the charging order made absolute and costs to be assessed remains undisturbed