MAJESTIC PLAN INTERNATIONAL LTD AND OTHERS v. JI CHANGQUN

MAJESTIC PLAN INTERNATIONAL LTD AND OTHERS v. JI CHANGQUN

The court refused an unconditional stay because the defendant failed to demonstrate an overwhelmingly strong appeal or cogent evidence of irreparable deleterious effect; however, to balance interests and minimize prejudice to the successful plaintiffs, the court granted a stay of execution pending the appeal on the condition that the principal sums and accrued pre-judgment interest be paid into court within 21 days; costs ordered in the cause up to 13 February 2026 and defendant to pay plaintiffs' costs after that date, subject to summary assessment; defendant must lodge opposition to costs within prescribed timeframes.

Citation
[2026] HKCFI 1755
Parties
1st Plaintiff: Majestic Plan International Limited; 2nd Plaintiff: Profit Reach Ventures Limited; 3rd Plaintiff: Digital King Investments Limited; Defendant: Defendant
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
1 April 2026
Case Number
HCA1494/2019
Procedural Posture
High Court (court of First Instance) Action No.1494/2019 Civil Money Claim / Application for Stay of Execution Pending Appeal (post Judgment)
Outcome
Stay of execution granted conditionally pending determination of appeal CACV 47/2026 upon payment into court of specified sums within 21 days; costs order nisi made as to costs allocation
Legal Topics
Consideration, Stay of Execution Pending Appeal, Forbearance to Sue, Contractual Interpretation, Security for Judgment, Pre Judgment Interest
Source Language
EN
Contract Law Civil Procedure Appeals Consideration Stay of Execution Pending Appeal Forbearance to Sue Contractual Interpretation Security for Judgment +1 more

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Parties

Majestic Plan International Limited

1st Plaintiff

Profit Reach Ventures Limited

2nd Plaintiff

Digital King Investments Limited

3rd Plaintiff

Defendant

Defendant

Procedural Posture

High Court (court of First Instance) Action No.1494/2019 Civil Money Claim / Application for Stay of Execution Pending Appeal (post Judgment)

Legal Issues

  1. 1 Whether the MOU is supported by valid consideration
  2. 2 Whether plaintiffs' forbearance to sue constituted valid consideration causally connected to the defendant's request
  3. 3 Whether the defendant demonstrated a sufficiently strong or arguable appeal to justify a stay

Ratio Decidendi

The court refused an unconditional stay because the defendant failed to demonstrate an overwhelmingly strong appeal or cogent evidence of irreparable deleterious effect; however, to balance interests and minimize prejudice to the successful plaintiffs, the court granted a stay of execution pending the appeal on the condition that the principal sums and accrued pre-judgment interest be paid into court within 21 days; costs ordered in the cause up to 13 February 2026 and defendant to pay plaintiffs' costs after that date, subject to summary assessment; defendant must lodge opposition to costs within prescribed timeframes.

Court Disposition

Stay of execution granted conditionally pending determination of appeal CACV 47/2026 upon payment into court of specified sums within 21 days; costs order nisi made as to costs allocation

Orders

  • Execution of the order in respect of the Judgment stayed pending determination of the Defendant's appeal CACV 47/2026 upon condition that the principal sums of HK$452,327,853.95 and HK$408,761,575.92, together with pre-judgment interest of HK$189,207,398.11 and HK$187,351,007.73, be paid into court within 21 days
  • Costs incurred by the parties on and prior to 13 February 2026 to be in the cause of the appeal in CACV 47/2026