Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Assignment of sale proceeds

Legal area

Court

31 Mar 2022

CHINA CITIC BANK INTERNATIONAL LTD v. GOLDIN INVESTMENT INTERMEDIARY LTD AND OTHERS

Citation

[2022] HKCFI 882
Court

Court of First Instance
Case number

HCA107/2022

On the totality of evidence the court found a good arguable case that GIIL assumed liability under the Assignment and that false/misleading documentation and sworn evidence emanating from GIIL and Mr Pan justified an objective inference of a real risk of unjustified dissipation; on balance of convenience and the Bank’s undertaking the worldwide Mareva injunction is to be continued; Hadkinson relief refused for procedural reasons; limited time extensions for disclosure ordered and costs reserved as ordered.
21 Mar 2019

WINLAND FINANCE LTD v. GAIN HERO FINANCE LTD

Citation

[2019] HKCFI 771
Court

Court of First Instance
Case number

HCMP2671/2017

The Winland Agreement did not create an interest in land registrable under the LRO; at best it created an equitable assignment of future sale proceeds and the deposit of title deeds did not effect an immediate equitable mortgage inconsistent with the written terms; a Charging Order Absolute imposed a charge on the debtor's beneficial interest in the Property and therefore has priority over Winland's unregistrable equitable interest in future sale proceeds; accordingly Gain Hero's originating summons succeeds and Winland's counterclaim is dismissed.