Hong Kong Case Law: Decisions & Judgments

Topic

Appointment of valuer

Legal area

Court

11 Apr 2014

THE BANK OF EAST ASIA (NOMINEES) LTD v. CHAN HELEN YUK CHING AND OTHERS

Citation

THE BANK OF EAST ASIA (NOMINEES) LTD v. CHAN HELEN YUK CHING AND OTHERS
Court

Court of First Instance
Case number

HCCW291/2011

The court held that the challenged prayers did not constitute impermissible reflective loss or require dismissal as derivative claims; the contested accounting remedies were ancillary to the s.168A unfair prejudice petition and could properly be pleaded and pursued there; accordingly the respondents' strike‑out summons was dismissed. Separately, the court refused the petitioner's application for an immediate valuation as premature and unduly expensive and dismissed that summons.
10 Nov 2011

DAVID KONG v. PINE DEVELOPMENT LTD AND ANOTHER

Citation

DAVID KONG v. PINE DEVELOPMENT LTD AND ANOTHER
Court

Court of First Instance
Case number

HCCW322/2006

FTI Consulting (Hong Kong) Limited was appointed as the replacement valuer because the firm demonstrated sufficient competence and experience, was effectively the successor to Baker Tilly (which respondents had originally proposed), was willing to consider prior work by Grant Thornton, and offered a capped fee comparable to alternatives; the court ordered both parties to supply the documents they provided to Grant Thornton within 28 days and allowed mutual inspection and copying of documents held by the valuer to avoid further delay.
12 Sept 2008

RE PINE GROWTH MANUFACTURING CO LTD

Citation

RE PINE GROWTH MANUFACTURING CO LTD
Court

Court of First Instance
Case number

HCCW322/2006

The court construed the order as requiring the parties to cooperate and act reasonably in appointing a valuer; the correct course is to offer Grant Thornton appointment on the identical capped terms tendered by Baker Tilley and, if Grant Thornton refuses, to appoint Baker Tilley; inspection must proceed with provision of soft-copy documents on DVD at a reasonable charge and the parties must jointly approach the bank to establish requirements for releasing the petitioner from guarantees.
12 Sept 2008

DAVID KONG v. PINE GROWTH MANUFACTURING CO LTD AND OTHERS

Citation

DAVID KONG v. PINE GROWTH MANUFACTURING CO LTD AND OTHERS
Court

Court of First Instance
Case number

HCCW321/2006

Court directed that Grant Thornton be offered the appointment on terms identical to the Baker Tilley quotation (ie the capped fee and disbursement terms); if Grant Thornton decline those terms the appointment should be offered to Baker Tilley; parties must cooperate to allow inspection and provision of soft copies (with reasonable charges) and jointly approach the bank to determine steps for release from guarantees; no order in the exact terms sought by either party.
18 Oct 2007

KING FUNG CONSTRUCTION WORK CO LTD v. YIP KWAI CHOR AND ANOTHER

Citation

KING FUNG CONSTRUCTION WORK CO LTD v. YIP KWAI CHOR AND ANOTHER
Court

Court of First Instance
Case number

HCA2183/2004

The court held that the correct valuation date is the petition date, 29 July 2004; the valuer must be a certified public accountant to value the 3,000 shares by reference to assets, profitability and future prospects without discount for minority holding; the valuer must account for the petitioners entitlement to 50% of profits and specified repayments/diversions; interest on the purchase price is awarded from valuation date at specified rates; and specified orders for purchase, provision of documents, costs and liberty to apply were made.
26 Apr 2002

LUI YUEN SZE v. CHANG CHING YUEH AND ANOTHER

Citation

LUI YUEN SZE v. CHANG CHING YUEH AND ANOTHER
Court

Court of First Instance
Case number

HCMP4823/2001

The injunction restraining the 1st Respondent from acquiring the PRC land by direct sale was dismissed because the subject sale is ordered by a PRC court and is outside the Hong Kong court's jurisdiction and the present PRC order was for a public auction making the injunction academic; an independent valuation was ordered with costs provision to avoid wastage (valuer to be an accountant appointed by the President of the Hong Kong Society of Accountants or by agreement); and delivery up of all company documents, company chops and the company seal by the 1st Respondent to the agreed Company Sec…

Hong Kong Case Law

THE BANK OF EAST ASIA (NOMINEES) LTD v. CHAN HELEN YUK CHING AND OTHERS

DAVID KONG v. PINE DEVELOPMENT LTD AND ANOTHER

RE PINE GROWTH MANUFACTURING CO LTD

DAVID KONG v. PINE GROWTH MANUFACTURING CO LTD AND OTHERS

KING FUNG CONSTRUCTION WORK CO LTD v. YIP KWAI CHOR AND ANOTHER

LUI YUEN SZE v. CHANG CHING YUEH AND ANOTHER