RE PPLIVE SPORTS INTERNATIONAL LTD (in liq)

RE PPLIVE SPORTS INTERNATIONAL LTD (in liq)

The court granted the letter of request because the liquidators met the Cooperation Mechanism criteria: they are Hong Kong liquidators seeking assistance from a Mainland pilot court; the Company’s COMI is Hong Kong for more than six months; the Company holds principal assets and potential claims in Shanghai; and...

Source-derived case information.

Citation
[2024] HKCFI 1850
Parties
Company (in Liquidation): PPLive Sports International Limited (in liquidation); Applicants; Joint and Several Liquidators: Cosimo Borrelli and Chi Lai Man Jocelyn; Creditor and Winding Up Petitioner: The Football Association Premier League Limited; Requested Foreign Court (pilot Area): Shanghai No.3 Intermediate People’s Court
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
15 July 2024
Case Number
HCMP612/2024
Procedural Posture
Application for Recognition and Assistance Under Cross Border Insolvency Cooperation Mechanism / Ex Parte Originating Summons Heard in Chambers; Reasons for Judgment and Order Made
Outcome
Application granted; letter of request to Shanghai No.3 Intermediate People’s Court to be issued for recognition and assistance in aid of the Company’s liquidation and its liquidators.
Legal Topics
Recognition and Assistance, Cooperation Mechanism With Mainland, Liquidator Powers, Centre of Main Interests (comi), Letters of Request
Source Language
en
Insolvency Cross Border Insolvency Company Law Civil Procedure International Judicial Assistance Recognition and Assistance Cooperation Mechanism With Mainland Liquidator Powers +2 more

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Parties

PPLive Sports International Limited (in liquidation)

Company (in Liquidation)

Cosimo Borrelli and Chi Lai Man Jocelyn

Applicants; Joint and Several Liquidators

The Football Association Premier League Limited

Creditor and Winding Up Petitioner

Shanghai No.3 Intermediate People’s Court

Requested Foreign Court (pilot Area)

Procedural Posture

Application for Recognition and Assistance Under Cross Border Insolvency Cooperation Mechanism / Ex Parte Originating Summons Heard in Chambers; Reasons for Judgment and Order Made

Legal Issues

  1. 1 Whether Hong Kong liquidators’ office should be recognised by a Mainland pilot court under the 14 May 2021 Cooperation Mechanism
  2. 2 Whether Hong Kong was the company’s COMI for the required period
  3. 3 Whether the company has principal assets in the Mainland pilot area necessitating assistance

Ratio Decidendi

The court granted the letter of request because the liquidators met the Cooperation Mechanism criteria: they are Hong Kong liquidators seeking assistance from a Mainland pilot court; the Company’s COMI is Hong Kong for more than six months; the Company holds principal assets and potential claims in Shanghai; and recognition and assistance are necessary to obtain information, secure assets and pursue recoveries in the Mainland where banks and parties will not cooperate without a Mainland court order.

Court Disposition

Application granted; letter of request to Shanghai No.3 Intermediate People’s Court to be issued for recognition and assistance in aid of the Company’s liquidation and its liquidators.

Orders

  • A letter of request in the form of Annex A be issued to the Shanghai No.3 Intermediate People’s Court seeking recognition and assistance in aid of the Company’s liquidation and its liquidators.
  • The liquidators’ costs, subject to taxation, be paid out of the assets of the Company.