29 Aug 2008
THE NEW CHINA HONG KONG GROUP LTD (IN CREDITORS\' VOLUNTARY LIQUIDATION) AND OTHERS v. ERNST & YOUNG (A Firm) AND ANOTHER
- Citation
- THE NEW CHINA HONG KONG GROUP LTD (IN CREDITORS\' VOLUNTARY LIQUIDATION) AND OTHERS v. ERNST & YOUNG (A Firm) AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCCL41/2004
On the pleaded facts and evidence the essential facts underpinning the plaintiffs' negligence and contract claims were or should have been known to the companies (via Executive/Credit Committees and key officers) before the relevant limitation cut-offs; s.31 and s.26 were not engaged on any arguable basis; equitable claims correspond to common law claims and are subject to limitation by analogy; accordingly most claims are plainly time-barred and were struck out, save only the audit fees claim against E&Y and the Payment-Outs claim against Wu which were not plainly statute-barred.