Hong Kong Case Law: Decisions & Judgments

Topic

Berkeley applegate order

Legal area

Court

20 Aug 2009

RE FIDELITY DISTRIBUTORS (HONG KONG) LTD

Citation

RE FIDELITY DISTRIBUTORS (HONG KONG) LTD
Court

Court of First Instance
Case number

HCCW310/2007

The court ordered that the proper costs and expenses incurred up to the hearing in investigating entitlement to the US$25,766 Subject Funds be paid out of those Subject Funds because the provisional liquidators were entitled to investigate and the requests for documents were reasonable; FDI had not discharged the evidential burden to remove the dispute, so a Berkeley Applegate style protection of the fund was appropriate; further hostile litigation costs will be sought from FDI if it pursues contested proceedings.
7 Sept 2007

RE CRESVALE FAR EAST LTD

Citation

RE CRESVALE FAR EAST LTD
Court

Court of First Instance
Case number

HCMP1871/2005

On the balance of probabilities the court held that (1) the Parcel A NK Shares were held on a resulting trust for AEC; (2) the NK Fund Part 3 was held on trust for Gun-Ei; and (3) the remaining disputed assets (including S-1, S-3 funds, Parcel B and C NK shares, Clean Sanwa shares, residual cash and NK Fund Parts 1 and 2) are assets of CFE to be dealt with in its liquidation; immediate delivery of assets was deferred pending resolution of costs.
7 Sept 2007

RE CRESVALE FAR EAST NOMINEES LTD (IN CREDITORS\' VOLUNTARY LIQUIDATION)

Citation

RE CRESVALE FAR EAST NOMINEES LTD (IN CREDITORS\' VOLUNTARY LIQUIDATION)
Court

Court of First Instance
Case number

HCMP3019/2004

On the balance of probabilities the court held that the Parcel A NK Shares were held on resulting trust for Alps Electric Co. Ltd and the NK Fund Part 3 on resulting trust for Gun‑Ei Chemical Co. Ltd; all other disputed items (including the S‑1 Fund, S‑3 Fund, Parcel B and C NK shares, Clean Sanwa shares, NK Fund Part 1 and Part 2 and residual cash) were assets of Cresvale Far East Limited to be dealt with in its liquidation; claims by Setogawa and Kumagai were not established; costs to be determined later.
27 Nov 2001

Re C.A. PACIFIC FINANCE LTD & C.A. PACIFIC SECURITIES LTD

Citation

Re C.A. PACIFIC FINANCE LTD & C.A. PACIFIC SECURITIES LTD
Court

Court of First Instance
Case number

HCCW36/1998

The court ordered that shares be distributed to clients upon payment of a provisional processing fee equal to 14% of the value of each client's portfolio at the Value Date, that the fee be held in a separate interest-bearing account pending taxation of legal costs and an independent examination and assessment of the Liquidators' remuneration and expenses (to be undertaken by a suitably qualified taxing master or the Court sitting with an accountant-assessor), and that the incidence of the costs of that examination be determined by the court on a discretionary basis according to the propriety,…
27 Nov 2001

Re C.A. PACIFIC FINANCE LTD & C.A. PACIFIC SECURITIES LTD

Citation

Re C.A. PACIFIC FINANCE LTD & C.A. PACIFIC SECURITIES LTD
Court

Court of First Instance
Case number

HCCW37/1998

The Court ordered distribution of client shares to proceed upon payment of a provisional processing fee fixed at 14% of the value of each client's portfolio as at the liquidation date, to be held in a separate interest-bearing account pending taxation of legal costs and an independent examination and assessment of the liquidators' remuneration and expenses; the examination is to be conducted by a taxing master with accountancy/insolvency qualifications or by the Court sitting with an assessor under s.53 High Court Ordinance; costs of that examination are to be allocated by the Court at the as…
7 Jul 2001

RE FORLUXE SECURITIES LTD.

Citation

RE FORLUXE SECURITIES LTD.
Court

Court of First Instance
Case number

HCCW311/1998

The court directed that liquidators' fees and expenses be allocated by (a) charging costs to the specific company where the work can be designated, (b) apportioning between companies equally where designation is impossible, and (c) apportioning between trust and general assets generally in proportion to the value of those assets (with specified exceptions for particular categories), and made specific allocations for seven cost categories and directions on distribution of shares.
7 Jul 2001

RE FORLUXE SECURITIES LTD.

Citation

RE FORLUXE SECURITIES LTD.
Court

Court of First Instance
Case number

HCCW310/1998

The Court directed specific apportionments: general liquidation/statutory work to be attributed to companies where identifiable and otherwise shared equally; apportionment between trust and general assets to be by proportion of asset values except where otherwise stated; share portfolio costs allocated by company ownership and by trust/general proportion; insurance claim costs fall to FSL and to general assets; sale of stock exchange seat costs to FSL general assets; HCA 7543/1998 litigation costs apportioned between FSL and FFL by relative claim values (approx. 20% FSL, 80% FFL) and between…

Hong Kong Case Law

RE FIDELITY DISTRIBUTORS (HONG KONG) LTD

RE CRESVALE FAR EAST LTD

RE CRESVALE FAR EAST NOMINEES LTD (IN CREDITORS\' VOLUNTARY LIQUIDATION)

Re C.A. PACIFIC FINANCE LTD & C.A. PACIFIC SECURITIES LTD

Re C.A. PACIFIC FINANCE LTD & C.A. PACIFIC SECURITIES LTD

RE FORLUXE SECURITIES LTD.

RE FORLUXE SECURITIES LTD.