Hong Kong Case Law: Decisions & Judgments

Topic

Appointment of special managers

Legal area

Court

17 Jul 2002

Re King Pacific International Holdings Ltd.

Citation

Re King Pacific International Holdings Ltd.
Court

Court of First Instance
Case number

HCCW164/2002

The court is bound by the Court of Appeal in Bank Negara Indonesia v. Interasian Traders Finance Ltd and holds it lacks jurisdiction to grant a stay of winding-up proceedings pending appeal on an application by the Company; accepting the two additional applicants as creditors with locus under s.209, the court exercised its discretion and found no special circumstances (the investor proposal was preliminary, Official Receiver not engaged, no urgent steps taken) to depart from the established practice of refusing stays in winding-up appeals, and therefore dismissed the application.
3 Jun 2002

RE KING PACIFIC INTERNATIONAL HOLDINGS LTD.

Citation

RE KING PACIFIC INTERNATIONAL HOLDINGS LTD.
Court

Court of First Instance
Case number

HCCW164/2002

The court is bound by the Court of Appeal in Bank Negara Indonesia that it has no jurisdiction to grant a stay of winding-up proceedings on the company's application; the two added applicants as alleged creditors have locus to apply under s.209 but the evidence failed to establish special circumstances to depart from the established practice of not granting stays pending appeal (the restructuring proposal was preliminary, major creditors and the Official Receiver were not properly engaged), therefore the stay application must be dismissed.
4 Oct 2000

RE KONG WAH HOLDINGS LTD.

Citation

RE KONG WAH HOLDINGS LTD.
Court

Court of First Instance
Case number

HCCW49/2000

The court concluded that section 216 does not confine it to appointing the Official Receiver's nominee and that it has both statutory and inherent jurisdiction to appoint a suitable special manager; accordingly the court refused to make the appointments sought without further information because of concerns about conflicts, the suitability of the proposed appointees and objectionable entrenching provisions in the proposed funding agreement which must be subject to creditor approval; the application was therefore adjourned and remains pending.
27 Jul 1984

RE PERAK PIONEER LTD

Citation

RE PERAK PIONEER LTD
Court

Court of First Instance
Case number

HCCW231/1984

The company has locus to apply; however, because the appointees are special managers with restricted administrative functions under the Official Receiver and not provisional liquidators with judicial powers, their appointment did not create a disqualifying conflict of interest and the application to discharge them was dismissed.

Hong Kong Case Law

Re King Pacific International Holdings Ltd.

RE KING PACIFIC INTERNATIONAL HOLDINGS LTD.

RE KONG WAH HOLDINGS LTD.

RE PERAK PIONEER LTD