Hong Kong Case Law: Decisions & Judgments

Topic

Bank guarantee as security

Legal area

Court

30 Jun 2009

SECURITIES AND FUTURES COMMISSION v. DESCARTES INVESTMENT MANAGEMENT LTD AND OTHERS

Citation

SECURITIES AND FUTURES COMMISSION v. DESCARTES INVESTMENT MANAGEMENT LTD AND OTHERS
Court

Court of First Instance
Case number

HCMP796/2009

The current draft bank guarantee is inadequate and will not be approved; however a suitably redrafted guarantee that addresses the bank's solicitor's comments and expressly covers other proceedings can be acceptable under paragraph 12A; due to urgency the summons will be heard by this judge rather than remitted to Kwan J, and the matter is adjourned to 6 July 2009 for approval of revised security with costs reserved.
13 Sept 2006

REALTY TEXTILES CO LTD v. CHING HING WEAVING DYEING & PRINTING FACTORY LTD

Citation

REALTY TEXTILES CO LTD v. CHING HING WEAVING DYEING & PRINTING FACTORY LTD
Court

Court of First Instance
Case number

HCA1884/2005

The court will not deliver a formal judgment on Realty's O 29 r.1 summons at this stage because the parties have been progressing toward return of the cloth and the export licence appears imminent; the matter is deferred but may be restored on seven days' notice and the court directs a schedule for written submissions on costs (Realty submissions, Ching Hing reply, Realty response each within seven days) with the possibility of oral argument only if required.
23 Apr 1980

CHIT FOO TRADING CO LTD v. THE OWNERS OF THE SHIP "EVERLUCK" (HONDURAS FLAG)

Citation

CHIT FOO TRADING CO LTD v. THE OWNERS OF THE SHIP "EVERLUCK" (HONDURAS FLAG)
Court

Court of Appeal
Case number

CACV76/1979

The Court reduced the security to $289,000 because the $112,768 item was unsupported and resulted in an excessive figure; had the correct figure been used the $300,000 guarantee offered 17 July would have been sufficient and plaintiffs should have accepted it, but the allocation of substantive costs of arrest remains for trial and not for interlocutory determination.

Hong Kong Case Law

SECURITIES AND FUTURES COMMISSION v. DESCARTES INVESTMENT MANAGEMENT LTD AND OTHERS

REALTY TEXTILES CO LTD v. CHING HING WEAVING DYEING & PRINTING FACTORY LTD

CHIT FOO TRADING CO LTD v. THE OWNERS OF THE SHIP "EVERLUCK" (HONDURAS FLAG)