COSIMO BORRELLI AND OTHERS v. HERBERT SMITH FREEHILLS (A FIRM)

COSIMO BORRELLI AND OTHERS v. HERBERT SMITH FREEHILLS (A FIRM)

The court ordered the Receivers/Applicants to pay the specified costs to CNG and HSFK with certificates for two counsel and taxation if not agreed, refused to order indemnity costs, and directed taxation rather than summary assessment because the applications involved novel and overlapping issues and substantial costs; the Receivers/Applicants were held responsible for 70% of the costs of the summonses to reflect their failure to secure a certificate for one counsel.

Citation
[2026] HKCFI 2746
Parties
1st Plaintiff (receiver Over 65% Shares in Soremi) and 1st Applicant (hcmp 968/2025): Cosimo Borrelli; 2nd Plaintiff (receiver Over 65% Shares in Soremi) and 2nd Applicant (hcmp 968/2025): Colin Wilson; 3rd Plaintiff (hcmp 408/2025): Soremi Investments Ltd.; Defendant (hcmp 408/2025): Herbert Smith Freehills (a firm); Intervener (hcmp 968/2025): China National Gold Group Hong Kong Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
12 May 2026
Case Number
HCMP408/2025
Procedural Posture
Miscellaneous Civil Proceedings Concerning Recognition of Foreign Receivership, Delivery Up of Documents and Costs / Decision on Costs Following Variation Summonses to Orders Nisi (post Judgment)
Outcome
Summonses to vary costs orders nisi resolved: specified costs awarded and indemnity refused; taxation ordered
Legal Topics
Recognition of Foreign Receivers, Delivery Up of Documents From Solicitors' Possession, Supervisory Jurisdiction Over Solicitors' Documents, Taxation Versus Summary Assessment of Costs, Certificate for Counsel, Indemnity Costs on Stay
Source Language
EN
Civil Procedure Arbitration Conflict of Laws Costs Law Receivership Law Recognition of Foreign Receivers Delivery Up of Documents From Solicitors' Possession Supervisory Jurisdiction Over Solicitors' Documents +3 more

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Parties

Cosimo Borrelli

1st Plaintiff (receiver Over 65% Shares in Soremi) and 1st Applicant (hcmp 968/2025)

Colin Wilson

2nd Plaintiff (receiver Over 65% Shares in Soremi) and 2nd Applicant (hcmp 968/2025)

Soremi Investments Ltd.

3rd Plaintiff (hcmp 408/2025)

Herbert Smith Freehills (a firm)

Defendant (hcmp 408/2025)

China National Gold Group Hong Kong Limited

Intervener (hcmp 968/2025)

Procedural Posture

Miscellaneous Civil Proceedings Concerning Recognition of Foreign Receivership, Delivery Up of Documents and Costs / Decision on Costs Following Variation Summonses to Orders Nisi (post Judgment)

Legal Issues

  1. 1 Whether the Receivers/Applicants should pay only 50% of CNG's costs or 100%
  2. 2 Whether certificate for one or two counsel should be allowed
  3. 3 Whether costs should be taxed or assessed summarily

Ratio Decidendi

The court ordered the Receivers/Applicants to pay the specified costs to CNG and HSFK with certificates for two counsel and taxation if not agreed, refused to order indemnity costs, and directed taxation rather than summary assessment because the applications involved novel and overlapping issues and substantial costs; the Receivers/Applicants were held responsible for 70% of the costs of the summonses to reflect their failure to secure a certificate for one counsel.

Court Disposition

Summonses to vary costs orders nisi resolved: specified costs awarded and indemnity refused; taxation ordered

Orders

  • In HCMP 968/2025 the Receivers shall pay the costs to China National Gold Group Hong Kong Limited with a certificate for two counsel, to be taxed if not agreed
  • In HCMP 968/2025 the Receivers shall pay the costs to Herbert Smith Freehills with a certificate for two counsel, to be taxed if not agreed