Hong Kong Case Law: Decisions & Judgments

Topic

Pre-trial valuation

Legal area

Court

15 Sept 2017

YUNG YUI KWAI v. YUNG WOON KWAI AND OTHERS

Citation

YUNG YUI KWAI v. YUNG WOON KWAI AND OTHERS
Court

Court of First Instance
Case number

HCMP1685/2009

Pre-trial valuation applications were dismissed as premature and not justified given respondents' objections and the likelihood the parties could undertake desktop valuations; amendment applications were refused because the alleged accounting liabilities were time-barred and, critically, the complainant had approved audited accounts which recorded the contested entries, so no basis was shown for unfair prejudice attributable to the respondents.
15 Sept 2017

CHUN YIP PLASTICS LTD AND OTHERS v. YUNG YUI KWAI AND OTHERS

Citation

CHUN YIP PLASTICS LTD AND OTHERS v. YUNG YUI KWAI AND OTHERS
Court

Court of First Instance
Case number

HCA1485/2015

The court refused the pre-trial valuation because on balance the valuation would be unlikely to advance settlement given the respondent camp's insistence on full disclosure of alleged wrongdoing, the parties could conduct desktop valuations, and an immediate valuation risked unnecessary expense; the court refused the proposed amendments because the pleaded accounting complaints were likely time-barred, the alleged mischaracterisations were contradicted by prior audited financial statements signed by the applicant, and there was no satisfactory basis to find the current directors would lawfull…
15 Sept 2017

YUNG WOON KWAI AND ANOTHER v. YUNG YUI KWAI AND OTHERS

Citation

YUNG WOON KWAI AND ANOTHER v. YUNG YUI KWAI AND OTHERS
Court

Court of First Instance
Case number

HCMP2154/2009

The court dismissed the pre‑trial valuation applications because a valuation would not resolve the core disputes without full disclosure of alleged wrongdoing, would be costly and was not sufficiently likely to facilitate settlement; the court refused leave to amend because the proposed allegations were, on the material, time‑barred or did not show unfair prejudice attributable to the respondents (and prior financial statements approved by the petitioner undermined the claim that it would be unfair for directors to refuse to alter accounting treatment).
15 Sept 2017

YUNG YUI KWAI v. YUNG WOON KWAI AND OTHERS

Citation

YUNG YUI KWAI v. YUNG WOON KWAI AND OTHERS
Court

Court of First Instance
Case number

HCMP2549/2015

The court exercised commercial judgment to dismiss the pre-trial valuation applications as unnecessary and disproportionate given the parties' positions, disputes over disclosure and likely costs; the court refused the proposed amendments because the pleaded accounting allegations were, on the material before the court, time-barred or not shown to be unfairly prejudicial in context (noting prior approval by the petitioner of audited accounts recording the same entries and directors' fiduciary duties).
15 Sept 2017

YUNG YUI KWAI v. YUNG WOON KWAI AND OTHERS

Citation

YUNG YUI KWAI v. YUNG WOON KWAI AND OTHERS
Court

Court of First Instance
Case number

HCMP1686/2009

The court dismissed the pre‑trial valuation applications and refused permission to amend pleadings. The valuation was not warranted because settlement was unlikely, parties could perform desk‑top valuations and the proposed valuation would impose disproportionate costs. The proposed amendments did not establish unfairly prejudicial conduct given time‑bar issues and the applicant had previously approved financial statements showing the disputed accounting treatment, such that permitting the amendments was inappropriate.
15 Sept 2017

YUNG WOON KWAI AND ANOTHER v. YUNG YUI KWAI AND ANOTHER

Citation

YUNG WOON KWAI AND ANOTHER v. YUNG YUI KWAI AND ANOTHER
Court

Court of First Instance
Case number

HCMP2569/2009

The court dismissed the pre-trial valuation applications because, on the evidence and submissions, a valuation would not materially assist settlement in the absence of disclosure of alleged wrongdoing and could be achieved by the parties without court appointment; the court disallowed the proposed amendments because the pleaded accounting allegations were either time-barred or undermined by prior audited financial statements approved by the petitioner and because the alleged duties invoked were duties owed to the company, not individual shareholders. Costs to be dealt with separately.
15 Sept 2017

YUNG WOON KWAI AND ANOTHER v. YUNG YUI KWAI AND OTHERS

Citation

YUNG WOON KWAI AND ANOTHER v. YUNG YUI KWAI AND OTHERS
Court

Court of First Instance
Case number

HCMP2568/2009

The court refused the pre-trial valuation applications because, on balance, the valuation would not meaningfully assist settlement in the absence of adequate disclosure and would be disproportionately expensive compared with desktop valuations the parties could undertake; it refused the amendment applications because the pleaded accounting complaints were, as pleaded, time-barred or could not be shown to be unfairly prejudicial given prior audited accounts signed by the petitioner disclosing the contested entries, and because directors cannot be compelled to acknowledge liabilities contrary t…
15 Sept 2017

YUNG WOON KWAI AND OTHERS v. YUNG YUI KWAI AND OTHERS

Citation

YUNG WOON KWAI AND OTHERS v. YUNG YUI KWAI AND OTHERS
Court

Court of First Instance
Case number

HCMP2567/2009

The court exercised its discretion to refuse both sets of applications: it declined to order pre-trial valuation because the respondents objected and the valuation would likely be no more productive pre-trial than post-trial given the absence of necessary disclosure and the risk of unnecessary cost; it refused to allow amendments adding allegations of misrecorded loans because the claims were effectively time-barred, the alleged mischaracterisations were not shown to be attributable to the respondents, and the petitioner had approved audited financial statements that disclosed the contested e…
15 Sept 2017

CHUN YIP PLASTICS LTD AND ANOTHER v. YUNG YUI KWAI AND ANOTHER

Citation

CHUN YIP PLASTICS LTD AND ANOTHER v. YUNG YUI KWAI AND ANOTHER
Court

Court of First Instance
Case number

HCA937/2013

The court dismissed the pre‑trial valuation applications because mandating an independent, potentially costly valuation against the respondents' objections was not justified where parties could conduct desktop valuations and where commercial judgment did not favour the order; the court refused the proposed amendments because the pleaded claims were, on their face, time‑barred and the petitioner had previously approved audited financial statements that disclosed the accounting treatment, undermining any claim of unfair prejudice requiring amendment.
15 Sept 2017

YUNG YUI KWAI AND ANOTHER v. YUNG WOON KWAI AND OTHERS

Citation

YUNG YUI KWAI AND ANOTHER v. YUNG WOON KWAI AND OTHERS
Court

Court of First Instance
Case number

HCMP2551/2015

The court dismissed the pre-trial valuation applications as unnecessary and likely to incur disproportionate cost where disclosure deficiencies and commercial judgment weigh against an early valuation; the court refused amendments because the pleaded accounting complaints were time-barred or insufficiently demonstrate unfairness given audited accounts signed by the claimant and the directors' fiduciary duties to the company.