YIFUNG PROPERTIES LTD AND OTHERS v. MANCHESTER SECURITIES CORP AND OTHERS

YIFUNG PROPERTIES LTD AND OTHERS v. MANCHESTER SECURITIES CORP AND OTHERS

Having regard to prior substantive decisions rejecting the same Points, the court concluded the plaintiffs' amended writ in HCA1359 and specified defence paragraphs in HCA1341 were manifestly misconceived or unarguably bad and constituted an abuse of process or frivolous/vexatious pleading; accordingly the statement of claim in HCA1359 was struck out and the action dismissed and specified defence paragraphs in HCA1341 were struck out; costs were ordered on an indemnity basis but limited to one fee earner in assessment.

Citation
YIFUNG PROPERTIES LTD AND OTHERS v. MANCHESTER SECURITIES CORP AND OTHERS
Parties
1st Plaintiff (hca1359/2014): Yifung Properties Limited; 2nd Plaintiff (hca1359/2014): Wonder Earn Group Limited; 3rd Plaintiff (hca1359/2014): Capital Metro Group Limited; 1st Defendant (hca1359/2014): Manchester Securities Corp; 2nd Defendant (hca1359/2014): Nicholas James Gronow; 3rd Defendant (hca1359/2014): Fok Hei Yu; 4th Defendant (hca1359/2014): Elliott Advisors (HK) Limited; Plaintiff (hca1341/2014): Yifung Developments Limited; 1st Defendant (hca1341/2014): Liu Chi Keung Ricky; 2nd Defendant (hca1341/2014): Ho Sing Chung Robert; 3rd Defendant (hca1341/2014): Choy Siu Fung Rebecca
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
19 October 2015
Case Number
HCA1341/2014
Procedural Posture
Civil: Mortgage/security, Corporate Control and Injunction Proceedings / Applications for Striking Out Following Prior Injunction Decisions; Decision on Summonses
Outcome
HCA1359: statement of claim struck out and action dismissed; HCA1341: specified paragraphs of defendants' defences struck out; costs reserved in part and assessed in part.
Legal Topics
Striking Out, Estoppel, Receivership, Implied Terms, Abuse of Process, Vexatious Litigation, Injunction Standards, Indemnity Costs
Source Language
EN
Civil Procedure Equity Company Law Contract Law Security and Mortgages Costs Striking Out Estoppel +6 more

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Parties

Yifung Properties Limited

1st Plaintiff (hca1359/2014)

Wonder Earn Group Limited

2nd Plaintiff (hca1359/2014)

Capital Metro Group Limited

3rd Plaintiff (hca1359/2014)

Manchester Securities Corp

1st Defendant (hca1359/2014)

Nicholas James Gronow

2nd Defendant (hca1359/2014)

Fok Hei Yu

3rd Defendant (hca1359/2014)

Elliott Advisors (HK) Limited

4th Defendant (hca1359/2014)

Yifung Developments Limited

Plaintiff (hca1341/2014)

Liu Chi Keung Ricky

1st Defendant (hca1341/2014)

Ho Sing Chung Robert

2nd Defendant (hca1341/2014)

Choy Siu Fung Rebecca

3rd Defendant (hca1341/2014)

Procedural Posture

Civil: Mortgage/security, Corporate Control and Injunction Proceedings / Applications for Striking Out Following Prior Injunction Decisions; Decision on Summonses

Legal Issues

  1. 1 Whether the amended statement of claim in HCA1359 discloses a reasonable cause of action (Estoppel Point)
  2. 2 Whether the amended statement of claim and parts of defences are frivolous, vexatious or an abuse of process
  3. 3 Whether specific defence paragraphs (No Event of Default, Implied Terms, Estoppel, MLO, Invalid Appointment of Receivers) are unarguably bad

Ratio Decidendi

Having regard to prior substantive decisions rejecting the same Points, the court concluded the plaintiffs' amended writ in HCA1359 and specified defence paragraphs in HCA1341 were manifestly misconceived or unarguably bad and constituted an abuse of process or frivolous/vexatious pleading; accordingly the statement of claim in HCA1359 was struck out and the action dismissed and specified defence paragraphs in HCA1341 were struck out; costs were ordered on an indemnity basis but limited to one fee earner in assessment.

Court Disposition

HCA1359: statement of claim struck out and action dismissed; HCA1341: specified paragraphs of defendants' defences struck out; costs reserved in part and assessed in part.

Orders

  • HCA1359/2014: The statement of claim is struck out and the action dismissed.
  • HCA1359/2014: On a nisi basis, costs of D1 and D4 are summarily assessed at 202343 HKD to be paid by the plaintiffs.