RE JOINT AND SEVERAL LIQUIDATORS OF OZNER WATER INTERNATIONAL HOLDING LTD (IN LIQUIDATION) (“COMPANY”)

RE JOINT AND SEVERAL LIQUIDATORS OF OZNER WATER INTERNATIONAL HOLDING LTD (IN LIQUIDATION) (“COMPANY”)

The court granted the letter of request because the company’s centre of main interests was found to be in Hong Kong despite Cayman incorporation, the assets and claims to be recovered are located in Shenzhen making the Mainland forum appropriate, the Cooperation Mechanism applies, and recognition and assistance by the Shenzhen Intermediate People’s Court is necessary and proportionate to enable the liquidators to perform their duties and recover the assets.

Citation
[2022] HKCFI 363
Parties
Applicants: Joint and Several Liquidators of Ozner Water International Holding Limited (in liquidation); Company (in Liquidation): Ozner Water International Holding Limited; Petitioner (winding Up Petition): DBS Bank Ltd, Hong Kong branch
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
27 January 2022
Case Number
HCMP9/2022
Procedural Posture
Miscellaneous Proceedings (insolvency / Winding Up) / Application for Issuance of Letter of Request for Recognition and Assistance in Mainland (shenzhen)
Outcome
Application granted; letter of request to Shenzhen Intermediate People’s Court to be issued
Legal Topics
Recognition of Foreign Liquidators, Cooperation Mechanism Between SPC and Hong Kong, Letters of Request, Centre of Main Interests (comi), Asset Recovery
Source Language
EN
Insolvency Private International Law Civil Procedure Cross Border Judicial Cooperation Recognition of Foreign Liquidators Cooperation Mechanism Between SPC and Hong Kong Letters of Request Centre of Main Interests (comi) +1 more

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Parties

Joint and Several Liquidators of Ozner Water International Holding Limited (in liquidation)

Applicants

Ozner Water International Holding Limited

Company (in Liquidation)

DBS Bank Ltd, Hong Kong branch

Petitioner (winding Up Petition)

Procedural Posture

Miscellaneous Proceedings (insolvency / Winding Up) / Application for Issuance of Letter of Request for Recognition and Assistance in Mainland (shenzhen)

Legal Issues

  1. 1 Whether the Hong Kong court should issue a letter of request to the Shenzhen Intermediate People’s Court under the Cooperation Mechanism
  2. 2 Whether a company incorporated in the Cayman Islands can have its centre of main interests in Hong Kong for the purposes of the SPC Opinion
  3. 3 Whether recognition and assistance in the Mainland is necessary and appropriate to enable the liquidators to recover Mainland assets

Ratio Decidendi

The court granted the letter of request because the company’s centre of main interests was found to be in Hong Kong despite Cayman incorporation, the assets and claims to be recovered are located in Shenzhen making the Mainland forum appropriate, the Cooperation Mechanism applies, and recognition and assistance by the Shenzhen Intermediate People’s Court is necessary and proportionate to enable the liquidators to perform their duties and recover the assets.

Court Disposition

Application granted; letter of request to Shenzhen Intermediate People’s Court to be issued

Orders

  • A letter of request in simplified Chinese be issued to the Shenzhen Intermediate People’s Court seeking recognition and assistance in aid of the company’s liquidation and its liquidators
  • The liquidators' costs of this application to be paid out of the assets of the company as an expense of the liquidation