Hong Kong Case Law: Decisions & Judgments

Topic

Conversion rights

Legal area

Court

11 Mar 2020

CONVOY COLLATERAL LTD v. CHO KWAI CHEE (also known as CHO KWAI CHEE ROY) AND OTHERS

Citation

[2020] HKCFI 429
Court

Court of First Instance
Case number

HCA399/2018

Although the plaintiff demonstrated a good arguable case on its claims, it failed to show the requisite concrete risk of dissipation of assets; its prior application to the BVI did not by itself bar Hong Kong relief, but the evidential threshold for a freezing order was not met, therefore the summons for a freezing order was dismissed.
13 Mar 2017

LIU QIAN v. SUNWAY INTERNATIONAL HOLDINGS LTD

Citation

LIU QIAN v. SUNWAY INTERNATIONAL HOLDINGS LTD
Court

Court of First Instance
Case number

HCA318/2016

The court held that the Instrument and Terms and Conditions, together with the company's bye-laws, created an express contractual entitlement treating the registered noteholder as absolute owner and excluding prior equities; Sunway failed to raise any believable defence that rescission for misrepresentation could defeat the plaintiff's contractual conversion rights at the summary judgment stage; accordingly judgment on liability was entered for the plaintiff and quantum was ordered to be assessed.
27 Mar 2013

RE TRANSAMERICA LIFE INSURANCE CO

Citation

RE TRANSAMERICA LIFE INSURANCE CO
Court

Court of First Instance
Case number

HCMP2872/2012

The court will sanction the s.24 transfer only if statutory notices, independent actuary's report and regulatory authorizations are satisfactory and no class of policyholders will be materially adversely affected; here the independent actuary and Insurance Authority found no material adverse effect and the transferee has sufficient assets and contractual supports, but sanction is conditional on the Companies providing a limited indemnity/undertaking in respect of excise tax and any additional tax liability arising solely from the change to a non-U.S. issuer and undertakings on conversion pric…
4 Jun 2008

CHAK KAK AND OTHERS v. PACRIM INTERNATIONAL CAPITAL INC.

Citation

CHAK KAK AND OTHERS v. PACRIM INTERNATIONAL CAPITAL INC.
Court

Court of Appeal
Case number

CACV366/2007

The Court of Appeal held clause 4.4 of Schedule B was clear and unambiguous in conferring on the board discretion to determine the redemption amount after the expiry of 24 months; the redemption amount was not fixed at CAN$1.00 by Schedule B such that the company could lawfully fix a different (lower) amount. The appeal was allowed, the trial judgment set aside and the plaintiffs' claim dismissed with costs.

Hong Kong Case Law

CONVOY COLLATERAL LTD v. CHO KWAI CHEE (also known as CHO KWAI CHEE ROY) AND OTHERS

LIU QIAN v. SUNWAY INTERNATIONAL HOLDINGS LTD

RE TRANSAMERICA LIFE INSURANCE CO

CHAK KAK AND OTHERS v. PACRIM INTERNATIONAL CAPITAL INC.