Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Accounts receivable

  • 17 Aug 2006

    MANDECLY LTD AND ANOTHER v. HAO WEI AND OTHERS

    Citation
    MANDECLY LTD AND ANOTHER v. HAO WEI AND OTHERS
    Court
    Court of First Instance
    Case number
    HCA1216/2002

    The court accepted the plaintiffs' evidence and found YLH23 and P55 to be contemporaneous and genuine, preferred the credibility of Mr Chan and Ms Yang over Mr Hao and Ms Qin, held that there was an oral agreement that Mr Hao would pay the land grant fees for the 13,200 m2 assigned to him, that SA3 allocated post-cut-off liabilities to Mr Hao but did not make plaintiffs liable for pre-cut-off liabilities alleged by defendants, rejected the defendants' misrepresentation and non-disclosure counterclaims, and entered judgment for the plaintiffs with orders for payment and transfer of shares and…

  • 20 Jan 2004

    UDL HOLDINGS LTD AND ANOTHER v. LEUNG YUET KEUNG AND ANOTHER

    Citation
    UDL HOLDINGS LTD AND ANOTHER v. LEUNG YUET KEUNG AND ANOTHER
    Court
    Court of Appeal
    Case number
    CACV271/2003

    The Court held that, on the proper construction of the Scheme document, "Accounts Receivables" includes monetary claims in legal or arbitral proceedings (including unliquidated or estimated recoveries) where the cause of action accrued at or before the Effective Date; accordingly recoveries would be remitted to the Scheme Account and the 1st and 2nd plaintiffs were effectively nominal and impecunious, so the security for costs order for HK$450,000 was proper and the appeal was dismissed.

  • 16 Jul 2003

    UDL HOLDINGS LTD AND ANOTHER v. LEUNG YUET KEUNG AND ANOTHER

    Citation
    UDL HOLDINGS LTD AND ANOTHER v. LEUNG YUET KEUNG AND ANOTHER
    Court
    Court of First Instance
    Case number
    HCA4409/2002

    The court held that on proper interpretation of the Scheme 'Accounts Receivables' includes monetary claims in legal proceedings accruing before the Scheme's effective date, so recoveries would be remitted to the Scheme Account making the 1st plaintiff a nominal plaintiff; evidence of adverse audited accounts, auditor's disclaimer and cashflow deterioration established reason to believe the 1st plaintiff would be unable to pay defendants' costs; applying the discretion and balancing test the court ordered security for costs against both plaintiffs limited to the stage of completion of discover…