Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Partnership termination and indemnity

Legal area

Court

8 Jun 2012

MOORES ROWLAND (A Firm) AND ANOTHER v. GRANT THORNTON (A Firm) AND OTHERS

Citation

MOORES ROWLAND (A Firm) AND ANOTHER v. GRANT THORNTON (A Firm) AND OTHERS
Court

Court of First Instance
Case number

HCA735/2010

The court is functus officio in relation to perfected consent orders and therefore will not set aside sealed consent orders in these interlocutory applications; even if jurisdiction existed the court should not exercise it before final determination of the internal dispute (HCA 1691/2011); accordingly the applications seeking declarations that the consent orders are null and void and restoration of proceedings are dismissed.
8 Jun 2012

GRANT THORNTON INTERNATIONAL LTD v. JBPB & CO (a partnership)

Citation

GRANT THORNTON INTERNATIONAL LTD v. JBPB & CO (a partnership)
Court

Court of First Instance
Case number

HCMP1284/2011

The Subject Applications were dismissed because the Consent Orders had been perfected and the court was functus officio; the correct remedy to challenge perfected consent orders is to bring a fresh action to set them aside, and even if residual jurisdiction existed the court should not exercise it before resolution of the Internal Dispute Action; additionally, granting the applications would unjustifiably prejudice other partners and third parties by frustrating a negotiated settlement where the minority offered no security or undertaking and had alternative remedies.