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Hong Kong Case Law

Interim payment for buy-out
  • 15 Apr 2005

    LAM YUK HON v. KOOK TAI WAI

    Citation
    LAM YUK HON v. KOOK TAI WAI
    Court
    Court of First Instance
    Case number
    HCCW1138/1999

    The court declined to make orders for a summary valuation, an affidavit of discovery by the respondent, or an interim payment because (a) the Tomlin order requires valuation by the independent accountants and the court cannot substitute a summary valuation absent sufficient material, (b) there was no established minimum value to justify interim payment, and (c) discovery by affidavit would not materially advance the valuation. Instead the court directed PWC to identify and use available documents, seek specified third‑party sources, request further information from the parties within time lim…