HAITONG INTERNATIONAL PRODUCTS & SOLUTIONS LTD v. CHINA CREATE CAPITAL LTD

HAITONG INTERNATIONAL PRODUCTS & SOLUTIONS LTD v. CHINA CREATE CAPITAL LTD

Because the plaintiffs held final judgments, the garnishee and charging orders nisi were validly obtained and served, the garnishee did not oppose, and interveners either withdrew or could not establish proprietary priority (Mareva injunctions do not confer such priority), the court must make the garnishee orders nisi and charging order nisi absolute and may vary related injunctions to permit enforcement.

Citation
[2025] HKCFI 6482
Parties
Plaintiff / Judgment Creditor: Haitong International Securities Company Limited; Plaintiff / Judgment Creditor: Haitong International Products & Solutions Limited; Defendant / Judgment Debtor: China Create Capital Limited; Garnishee: CCB International Securities Limited; Intended 1st Intervener / Third Party With Proprietary Injunction: Jin Jiang Investment Limited; Intended 2nd Intervener / Trustee in Bankruptcy / Third Party With Proprietary Injunction: Shum Tin Ching trading as Chuangsheng International Investment and Management Co.; Third Party / Injunction Claimant: Alltogether Land Company Limited; Third Party / Injunction Claimant: Sky Motion Holdings Ltd
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
31 December 2025
Case Number
HCA2123/2020
Procedural Posture
Enforcement — Garnishee and Charging Order Proceedings / Hearing to Make Garnishee Orders Nisi and Charging Order Nisi Absolute (final Enforcement Stage)
Outcome
Garnishee orders nisi and charging order nisi made absolute; related injunctions varied by consent; costs awarded to judgment creditors.
Legal Topics
Garnishee Order, Charging Order, Mareva Injunction, Proprietary Rights, Variation of Injunction, Intervention, Proceeding in Absence of Defendant
Source Language
EN
Enforcement Civil Procedure Garnishment Charging Orders Injunctions Intervention Garnishee Order Charging Order +4 more

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Parties

Haitong International Securities Company Limited

Plaintiff / Judgment Creditor

Haitong International Products & Solutions Limited

Plaintiff / Judgment Creditor

China Create Capital Limited

Defendant / Judgment Debtor

CCB International Securities Limited

Garnishee

Jin Jiang Investment Limited

Intended 1st Intervener / Third Party With Proprietary Injunction

Shum Tin Ching trading as Chuangsheng International Investment and Management Co.

Intended 2nd Intervener / Trustee in Bankruptcy / Third Party With Proprietary Injunction

Alltogether Land Company Limited

Third Party / Injunction Claimant

Sky Motion Holdings Ltd

Third Party / Injunction Claimant

Procedural Posture

Enforcement — Garnishee and Charging Order Proceedings / Hearing to Make Garnishee Orders Nisi and Charging Order Nisi Absolute (final Enforcement Stage)

Legal Issues

  1. 1 Whether the garnishee orders nisi and charging order nisi should be made absolute
  2. 2 Whether Mareva (freezing) injunctions confer proprietary priority defeating enforcement orders
  3. 3 Whether proceedings could properly continue in the absence of the Defendant and without opposition from the garnishee or interveners

Ratio Decidendi

Because the plaintiffs held final judgments, the garnishee and charging orders nisi were validly obtained and served, the garnishee did not oppose, and interveners either withdrew or could not establish proprietary priority (Mareva injunctions do not confer such priority), the court must make the garnishee orders nisi and charging order nisi absolute and may vary related injunctions to permit enforcement.

Court Disposition

Garnishee orders nisi and charging order nisi made absolute; related injunctions varied by consent; costs awarded to judgment creditors.

Orders

  • The garnishee orders nisi and charging order nisi in HCA 1333/2020, HCA 2123/2020 and HCA 291/2021 be made absolute.
  • Costs of the garnishee order nisi at $5,200 each and of the charging order nisi at $9,100 be paid by the Defendant to the Plaintiff of each Action.