17 Jul 2020
SECURITIES AND FUTURES COMMISSION v. WONG WAI KWONG DAVID AND OTHERS
- Citation
- [2020] HKCFI 1617
- Court
- Court of First Instance
- Case number
- HCMP1227/2011
The judge exercised his discretionary costs power to reduce the directors' joint and several liability to 70% of the SFC's costs because the SFC's persistent pursuit of a compensation claim, which ultimately failed, materially contributed to the necessity and length of the trial; earlier offers were not so plainly superior or so reasonably acceptable as to require maintaining the full costs order; accordingly the original costs order was varied to 70% payable by the directors, taxed if not agreed with certificate for two counsel, and no order was made on costs of the variation application.