CHOW HOW YEEN MARGARET AND OTHERS v. WEX PHARMACEUTICALS INC. AND ANOTHER

CHOW HOW YEEN MARGARET AND OTHERS v. WEX PHARMACEUTICALS INC. AND ANOTHER

The court refused to vary the pre-judgment interest from Hong Kong judgment rate, upheld the certificate for two counsel, refused to order taxation of the striking out costs, and ordered indemnity costs and enhanced interest (10% above judgment rate) from the date the sanctioned offer lapsed (5 November 2014) because the defendants failed to respond to the sanctioned offer and their conduct (including poor pursuit of a key witness and presentation of half-truths) made indemnity costs and enhanced interest just and appropriate.

Citation
CHOW HOW YEEN MARGARET AND OTHERS v. WEX PHARMACEUTICALS INC. AND ANOTHER
Parties
1st Plaintiff: Chow How Yeen Margaret; 2nd Plaintiff: Gao Cheng (Xie Li) Company Limited; 3rd Plaintiff: Muscular Investment Company Limited; 1st Defendant: Wex Pharmaceuticals Inc.; 2nd Defendant: Wex Medical Limited; 1st Third Party: Frank Hay Kong Shum; 2nd Third Party: Grace Wai Lan Leong
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
5 September 2017
Case Number
HCA537/2013
Procedural Posture
Civil Fraudulent Misrepresentation (share Transaction) / Post Judgment Variation Applications (applications to Vary Orders Nisi; Costs and Interest Hearings)
Outcome
Applications by the Defendants dismissed; Plaintiffs' applications for indemnity costs and enhanced interest granted as specified.
Legal Topics
Fraudulent Misrepresentation, Pre Judgment Interest, Sanctioned Offer, Indemnity Costs, Enhanced Interest, Certificate for Counsel, Summary Assessment of Costs, Service Out of Jurisdiction
Source Language
EN
Civil Contract Tort Civil Procedure Costs Interest Fraudulent Misrepresentation Pre Judgment Interest +6 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 6 Authorities cited 14 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

Chow How Yeen Margaret

1st Plaintiff

Gao Cheng (Xie Li) Company Limited

2nd Plaintiff

Muscular Investment Company Limited

3rd Plaintiff

Wex Pharmaceuticals Inc.

1st Defendant

Wex Medical Limited

2nd Defendant

Frank Hay Kong Shum

1st Third Party

Grace Wai Lan Leong

2nd Third Party

Procedural Posture

Civil Fraudulent Misrepresentation (share Transaction) / Post Judgment Variation Applications (applications to Vary Orders Nisi; Costs and Interest Hearings)

Legal Issues

  1. 1 Whether pre-judgment interest rate should be reduced from Hong Kong judgment rate to Canadian prime+1% or other rate
  2. 2 Whether certificates for two counsel should be reduced to one
  3. 3 Whether costs of striking out summons should be taxed rather than summarily assessed

Ratio Decidendi

The court refused to vary the pre-judgment interest from Hong Kong judgment rate, upheld the certificate for two counsel, refused to order taxation of the striking out costs, and ordered indemnity costs and enhanced interest (10% above judgment rate) from the date the sanctioned offer lapsed (5 November 2014) because the defendants failed to respond to the sanctioned offer and their conduct (including poor pursuit of a key witness and presentation of half-truths) made indemnity costs and enhanced interest just and appropriate.

Court Disposition

Applications by the Defendants dismissed; Plaintiffs' applications for indemnity costs and enhanced interest granted as specified.

Orders

  • Defendants' summons to vary pre-judgment interest rate, to reduce certificate for counsel to one and to have striking out summons costs taxed is dismissed
  • Order nisi on interest maintained at Hong Kong judgment rate on judgment sums from respective purchase dates until 4 November 2014; varied to enhanced rate (10% above judgment rate) from 5 November 2014 to date of judgment and thereafter at enhanced rate until satisfaction