Hong Kong Case Law: Decisions & Judgments

Topic

Convertible bond

Legal area

Court

1 Feb 2021

DELCO PARTICIPATION B.V. v. CHIHO ENVIRONMENTAL GROUP LTD AND OTHERS

Citation

[2021] HKCFI 265
Court

Court of First Instance
Case number

HCA2939/2016

The court refused Delco's proposed expert question on market practice for procuring a buyer for the CB (question 3A) because the proposed evidence did not fall within a recognised body of expert knowledge likely to assist the court, was unnecessary to decide the contractual issue of best endeavours and would have limited probative value; other expert directions as set out were ordered and costs of the related summonses were ordered in the cause; third party disclosure applications were adjourned to permit CT and USUMHK to file affidavits and submissions.
8 Aug 2012

MEI LI NEW ENERGY LTD v. SINOPOLY BATTERY LTD

Citation

MEI LI NEW ENERGY LTD v. SINOPOLY BATTERY LTD
Court

Court of First Instance
Case number

HCA1071/2012

Leave to discontinue the counterclaim was refused because Mei Li had not shown good reason for withdrawing a more advanced counterclaim in order to pursue a duplicate action; clause 11 did not require prior written notice to complete the cause of action, the alleged defect could be cured by amendment, and permitting the 2012 Action would cause multiplicity and waste judicial resources; accordingly the 2012 Action was struck out.
22 Apr 2010

PEARLDELTA GROUP LTD v. HUGE WINNERS INTERNATIONAL LTD AND OTHERS

Citation

PEARLDELTA GROUP LTD v. HUGE WINNERS INTERNATIONAL LTD AND OTHERS
Court

Court of First Instance
Case number

HCA818/2008

The court held Pearldelta was entitled to redeem under the SIA because Huge Winners breached express SIA obligations (late/absent audited and management accounts and failure to fund the sinking fund) constituting Events of Default; the Redemption Notice complied with the contract; the individual guarantors' defences (misrepresentation, non est factum, undue influence) failed; the SIA fell within the MLO exemption for substantial companies and, in any event, the major part of the redemption return is capital not interest; the conversion-price clause properly supports a minimum conversion price…
22 Apr 2010

PEARLDELTA GROUP LTD v. HUGE WINNERS INTERNATIONAL LTD AND OTHERS

Citation

PEARLDELTA GROUP LTD v. HUGE WINNERS INTERNATIONAL LTD AND OTHERS
Court

Court of First Instance
Case number

HCA595/2008

The court held Pearldelta was entitled to redeem under the SIA because Huge Winners breached the SIA (failure to deliver required accounts and to fund the sinking fund and multiple other covenant breaches); the Principals' personal guarantees are enforceable; the defences (misrepresentation, non est factum, undue influence, unilateral mistake, MLO usury) fail as a matter of law and fact; the conversion-price adjustment clause properly yields a minimum conversion price of HK$0.01 where formula produces a lower/negative result; the net-asset redemption sum of HK$86,321,292.66 is recoverable and…

Hong Kong Case Law

DELCO PARTICIPATION B.V. v. CHIHO ENVIRONMENTAL GROUP LTD AND OTHERS

MEI LI NEW ENERGY LTD v. SINOPOLY BATTERY LTD

PEARLDELTA GROUP LTD v. HUGE WINNERS INTERNATIONAL LTD AND OTHERS

PEARLDELTA GROUP LTD v. HUGE WINNERS INTERNATIONAL LTD AND OTHERS