ZIEF INCORPORATED v. TEKCHANDANI AJAI MOHAN (trading as D’ZINER COLLECTIONS (HONG KONG)) AND OTHERS

ZIEF INCORPORATED v. TEKCHANDANI AJAI MOHAN (trading as D’ZINER COLLECTIONS (HONG KONG)) AND OTHERS

The court was not functus off and could determine interest after sealing because the judgment clearly contemplated interest; awarded pre-judgment interest on HK$3,120,000 from 3 February 2016 to 13 May 2020 at 1% above HSBC best lending rates prevailing during the period; under RHC Order 22 r24 plaintiff having beaten its sanctioned offer was entitled to enhanced interest at 5% above judgment rate for 14 May 2020 to 7 January 2021 and indemnity costs from 14 May 2020 (but only one counsel certificate), but post-judgment interest was limited to judgment rate; application for stay pending appeal dismissed; monies paid into court ordered released to plaintiff's solicitors; plaintiff given...

Citation
[2021] HKCFI 730
Parties
Plaintiff: ZIEF INCORPORATED; 1st Defendant: TEKCHANDANI AJAI MOHAN (trading as D’ZINER COLLECTIONS (HONG KONG)); 2nd Defendant: tekchandani mohan; 3rd Defendant: D’ZINER COLLECTIONS (HONG KONG); 4th Defendant: CREATOR UNIVERSAL (HK) LIMITED (formerly known as BASILICA JEWELRY LIMITED)
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
23 March 2021
Case Number
HCA2459/2017
Procedural Posture
Civil Action (unjust Enrichment) Action No 2459 of 2017 / Judgment Handed Down and Post‑judgment Applications (hearing 17 March 2021)
Outcome
Judgment for plaintiff against 4th defendant for HK$3,120,000 with specified interest and costs; varied costs order nisi; stay pending appeal dismissed; sums paid into court released to plaintiff; leave to amend sealed judgment granted.
Legal Topics
Pre Judgment Interest, Post Judgment Interest, Sanctioned Offer (order 22 R24), Variation of Costs Order Nisi, Stay of Execution Pending Appeal, Payment Out of Monies Paid Into Court
Source Language
EN
Unjust Enrichment Civil Procedure Costs Interest Appeal Pre Judgment Interest Post Judgment Interest Sanctioned Offer (order 22 R24) +3 more

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Parties

ZIEF INCORPORATED

Plaintiff

TEKCHANDANI AJAI MOHAN (trading as D’ZINER COLLECTIONS (HONG KONG))

1st Defendant

tekchandani mohan

2nd Defendant

D’ZINER COLLECTIONS (HONG KONG)

3rd Defendant

CREATOR UNIVERSAL (HK) LIMITED (formerly known as BASILICA JEWELRY LIMITED)

4th Defendant

Procedural Posture

Civil Action (unjust Enrichment) Action No 2459 of 2017 / Judgment Handed Down and Post‑judgment Applications (hearing 17 March 2021)

Legal Issues

  1. 1 Whether the court can determine interest and vary orders after a judgment has been sealed
  2. 2 Appropriate start date and rate for pre-judgment interest on the sum of HK$3,120,000
  3. 3 Whether plaintiff is entitled to enhanced interest and indemnity costs under RHC Order 22 r24 after a sanctioned offer

Ratio Decidendi

The court was not functus off and could determine interest after sealing because the judgment clearly contemplated interest; awarded pre-judgment interest on HK$3,120,000 from 3 February 2016 to 13 May 2020 at 1% above HSBC best lending rates prevailing during the period; under RHC Order 22 r24 plaintiff having beaten its sanctioned offer was entitled to enhanced interest at 5% above judgment rate for 14 May 2020 to 7 January 2021 and indemnity costs from 14 May 2020 (but only one counsel certificate), but post-judgment interest was limited to judgment rate; application for stay pending appeal dismissed; monies paid into court ordered released to plaintiff's solicitors; plaintiff given...

Court Disposition

Judgment for plaintiff against 4th defendant for HK$3,120,000 with specified interest and costs; varied costs order nisi; stay pending appeal dismissed; sums paid into court released to plaintiff; leave to amend sealed judgment granted.

Orders

  • Judgment sum HK$3,120,000 awarded to plaintiff (per earlier judgment)
  • Pre-judgment interest on HK$3,120,000 from 3 February 2016 to 13 May 2020 at a rate of 1% over HSBC's best lending rates prevailing at the material times