Hong Kong Case Law: Decisions & Judgments

Topic

Cross-border insolvency

Legal area

Court

23 Jun 2025

PEKING UNIVERSITY FOUNDER GROUP COMPANY LIMITED (北大方正集團有限公司) v. KUNZHI LIMITED (坤智有限公司)(IN LIQUIDATION IN THE BRITISH VIRGIN ISLANDS)

Citation

[2025] HKCFA 14
Court

Court of Final Appeal
Case number

FACV9/2024

Costs follow the event: the appeals were allowed in favour of PUFG, the Court restored Harris J's first instance costs order, ordered the Respondents to pay PUFG's costs of the Court of Appeal and this Court, and certified the appeals fit for four counsel because the issues were exceptionally important and complex and the Respondents repeatedly sought to widen unpleaded issues; consequently the Respondents must pay PUFG's costs including the present application (certified for three counsel).
13 May 2024

RE AETHER LTD

Citation

[2024] HKCFI 1288
Court

Court of First Instance
Case number

HCCW397/2020

Validation under s182 was granted because the chargee lawfully exercised its power of sale, the transfer would cause no disadvantage or detriment to any person with a conceivable interest (shares fully paid up, no prejudice to creditors), the liquidators and receivers did not object, and there was no legal bar (pre-emption or redemption) to validation; accordingly the court exercised its discretion to validate the transfer to Chang An or such purchaser as Cinda or its receivers may determine.
15 Sept 2021

RE LT COMMERCIAL LTD (In Creditors’ Voluntary Liquidation)

Citation

[2021] HKCFI 2867
Court

Court of First Instance
Case number

HCCW261/2021

The court granted the application to appoint Mr So Man Chun and Mr Jong Yat Kit as provisional liquidators and expressly granted leave under s262B(3)(a) because practical necessity to avoid operational hiatus and to facilitate Mainland proceedings outweighed any theoretical conflict; the trustees’ creditor status was technical given the very small debt (approx. 0.24%), and on that basis no material conflict was found to preclude appointment (following the approach in Re Gold Finance).
2 Mar 2012

RE ANGEL WISE LTD

Citation

RE ANGEL WISE LTD
Court

Court of First Instance
Case number

HCCW58/2012

The New Shares derived from Angel Wise's FabWay shareholding and therefore fell within the Share Charge Agreement's definition of Related Assets; an equitable charge attached in favour of Stark Moly on allotment, entitling Stark Moly to a declaration and to have the charging order nisi made absolute; a stay was properly refused because Stark Moly is enforcing a proprietary right as a secured creditor and Hong Kong is the appropriate forum to determine the proprietary effect of the charge.

Hong Kong Case Law

PEKING UNIVERSITY FOUNDER GROUP COMPANY LIMITED (北大方正集團有限公司) v. KUNZHI LIMITED (坤智有限公司)(IN LIQUIDATION IN THE BRITISH VIRGIN ISLANDS)

RE AETHER LTD

RE LT COMMERCIAL LTD (In Creditors’ Voluntary Liquidation)

RE ANGEL WISE LTD