Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Nominee shares

  • 15 Jul 2015

    DANIEL ISAAC HENRI MIMOUN AND OTHERS v. DRAGON CONCEPT HK LTD AND OTHERS

    Citation
    DANIEL ISAAC HENRI MIMOUN AND OTHERS v. DRAGON CONCEPT HK LTD AND OTHERS
    Court
    Court of First Instance
    Case number
    HCCW434/2012

    Security for costs was ordered because the petitioners were foreign or effectively foreign and the local corporate petitioner was a nominee of a foreign beneficial owner, the 2nd respondent adduced credible evidence (notably an unpaid allocatur exceeding HK$330,000 and over HK$400,000 with interest) meeting the threshold under s905 of the Companies Ordinance that the corporate petitioner may be unable to pay costs, and no discretionary factor (delay, provisional liquidator's report, monies paid into court) sufficiently rebutted the need for security; the court fixed security at HK$700,000 and…

  • 4 Mar 2006

    WONG KAM SAN AND OTHERS v. ZHAO KAI INVESTMENT LTD AND OTHERS

    Citation
    WONG KAM SAN AND OTHERS v. ZHAO KAI INVESTMENT LTD AND OTHERS
    Court
    Court of First Instance
    Case number
    HCA1653/2004

    The defendants discharged the burden of proving that the 1st plaintiff is ordinarily resident outside Hong Kong and the plaintiffs produced no affidavit to contradict this. The court found the plaintiffs' claimed assets were unreliable or encumbered (self valuation of properties and uncertain value of the mine). Balancing the factors and the existence of the properties as partial security for an undertaking, the court exercised its discretion under Order 23 rule 1 to order security for costs in the sum of HK$1.2 million to be deposited within 14 days, failing which the action as against the 1…

  • 3 Nov 2005

    RE THE HONG KONG METROPOLITAN BANK (NOMINEES) LTD (IN LIQUIDATION)

    Citation
    RE THE HONG KONG METROPOLITAN BANK (NOMINEES) LTD (IN LIQUIDATION)
    Court
    Court of First Instance
    Case number
    HCCW279/1992

    The court declared that the Part A and Part B shares held in the name of HKMBN are beneficially owned by BCCHK and that the joint agents are authorised to obtain replacement certificates where necessary, to sell the shares and to remit proceeds and dividends (with interest) to the special managers of BCCHK; the court declared the LKM shares to be beneficially owned by the estate of Law Kin Man and authorised transfer to the receiver; the court ordered that costs of investigation and of the application be paid out of the proceeds of the shares.