GAO HAI YIN AND ANOTHER v. KEENEYE HOLDINGS LTD AND OTHERS

GAO HAI YIN AND ANOTHER v. KEENEYE HOLDINGS LTD AND OTHERS

The court found the plaintiffs' case inherently unbelievable in light of contemporaneous documents and post-release conduct, concluded there was no serious question to be tried on the validity of the Agreements as pleaded, identified material non-disclosure, and exercised its discretion to discharge the ex parte orders and decline to re-grant them.

Citation
GAO HAI YIN AND ANOTHER v. KEENEYE HOLDINGS LTD AND OTHERS
Parties
1st Plaintiff: Gao Hai Yin; 2nd Plaintiff: Xie Heping; 1st Defendant: Keeneye Holdings Limited; 2nd Defendant: New Purple Golden Resources Development Limited; 3rd Defendant: Lu Ying; 4th Defendant: Wang Li; 5th Defendant: Bai Jun Tian Cheng Limited; 6th Defendant: Daynew Assets Management Limited; 7th Defendant: Far Orient Holdings Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
23 July 2009
Case Number
HCA1315/2009
Procedural Posture
Civil Action Interlocutory Application Concerning Interim Receiver and Validity of Share Transfers / Chambers Decision on Application to Continue or Discharge Ex Parte Orders (application Heard 20 Jul 2009; Decision 23 Jul 2009)
Outcome
Ex parte orders discharged; no re-grant; costs reserved as nisi in favour of defendants
Legal Topics
Interim Receiver, Duress, Misrepresentation, Non Disclosure in Ex Parte Applications, Share Transfer Validity, Authority of Attorney, Discharge of Ex Parte Orders
Source Language
EN
Company Law Contract Law Equity Civil Procedure Private International Law Interim Receiver Duress Misrepresentation +4 more

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Parties

Gao Hai Yin

1st Plaintiff

Xie Heping

2nd Plaintiff

Keeneye Holdings Limited

1st Defendant

New Purple Golden Resources Development Limited

2nd Defendant

Lu Ying

3rd Defendant

Wang Li

4th Defendant

Bai Jun Tian Cheng Limited

5th Defendant

Daynew Assets Management Limited

6th Defendant

Far Orient Holdings Limited

7th Defendant

Procedural Posture

Civil Action Interlocutory Application Concerning Interim Receiver and Validity of Share Transfers / Chambers Decision on Application to Continue or Discharge Ex Parte Orders (application Heard 20 Jul 2009; Decision 23 Jul 2009)

Legal Issues

  1. 1 Whether there is a serious question to be tried as to the validity of the share transfer agreements and transfers of plaintiffs' shares in Bai Jun
  2. 2 Whether the plaintiffs acted under duress or were induced by misrepresentation such that the Agreements should be set aside
  3. 3 Whether the plaintiffs failed to make full and frank disclosure and/or misled the court in obtaining ex parte relief

Ratio Decidendi

The court found the plaintiffs' case inherently unbelievable in light of contemporaneous documents and post-release conduct, concluded there was no serious question to be tried on the validity of the Agreements as pleaded, identified material non-disclosure, and exercised its discretion to discharge the ex parte orders and decline to re-grant them.

Court Disposition

Ex parte orders discharged; no re-grant; costs reserved as nisi in favour of defendants

Orders

  • The ex parte orders made on 25 June 2009 and 2 July 2009 are discharged
  • No re-grant of the ex parte orders