Hong Kong Case Law: Decisions & Judgments

Topic

Fraudulent disposition of assets

Legal area

Court

1 Nov 2017

CHINA CONSTRUCTION REALTY LTD v. LUCKY DRAGON LTD

Citation

CHINA CONSTRUCTION REALTY LTD v. LUCKY DRAGON LTD
Court

Court of First Instance
Case number

HCA1237/2012

Court found on the balance of probabilities that Jinan Co genuinely acquired and then sold the 60% Dalian Shares to Empire Star under a genuine Framework Agreement; Empire Star proved it paid substantial consideration funded by Zhang and Weng and applied sums to repay company debts; plaintiff failed to prove the transfers were made with intent to defraud or that Empire Star had notice; therefore s.60 relief failed, the claim dismissed and the interlocutory injunction discharged; contempt application failed for want of proof beyond reasonable doubt of personal service/notice to Zhang and mens…
31 Oct 2008

PACIFIC ELECTRIC WIRE & CABLE CO LTD v. GOLD GLOBAL LTD AND OTHERS

Citation

PACIFIC ELECTRIC WIRE & CABLE CO LTD v. GOLD GLOBAL LTD AND OTHERS
Court

Court of Appeal
Case number

CACV211/2008

Applications for stay pending appeal were refused because applicants failed to demonstrate sufficiently strong grounds of appeal or a real risk that enforcement would render the appeal nugatory; the Order 14 proceedings were appropriately considered in context given defendants' lack of substantive defence; evidence established the plaintiff's solvency and the plaintiff gave an undertaking preventing disposition of key shares, so assets remained adequately protected.
11 Nov 1987

MANDARIN RESOURCES CORPORATION LTD v. DAVID CHENG HENG SOON AND OTHERS

Citation

MANDARIN RESOURCES CORPORATION LTD v. DAVID CHENG HENG SOON AND OTHERS
Court

Court of Appeal
Case number

CACV146/1987

The Court held that an interim receiver should be appointed pending the appeal because there were strong, unrefuted allegations of fraud and a real risk of dissipation of assets which would render a successful judgment valueless; a contention that jurisdiction was disputed did not preclude the grant of interim relief; the balance of convenience favored appointment with appropriate terms as to security.

Hong Kong Case Law

CHINA CONSTRUCTION REALTY LTD v. LUCKY DRAGON LTD

PACIFIC ELECTRIC WIRE & CABLE CO LTD v. GOLD GLOBAL LTD AND OTHERS

MANDARIN RESOURCES CORPORATION LTD v. DAVID CHENG HENG SOON AND OTHERS