Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Nationality (by incorporation) principle

Legal area

Court

4 Oct 2000

RE AKAI HOLDINGS LTD. (FORMERLY KNOWN AS SEMI-TECH (GLOBAL) CO. LTD.)

Citation

RE AKAI HOLDINGS LTD. (FORMERLY KNOWN AS SEMI-TECH (GLOBAL) CO. LTD.)
Court

Court of First Instance
Case number

HCCW50/2000

The court held that under s216 it retains full discretion to appoint a special manager and may appoint someone other than the Official Receiver's nominee; the court may exercise inherent jurisdiction to appoint a suitable officer where the Official Receiver cannot perform administration; creditor funding that entrenchs an office holder and confers veto rights must be subject to creditor approval and is objectionable; appointments must be determined by reference to competence, independence and creditors' interests.
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.