Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Procedural guides

  • 27 Aug 2009

    RE LEHMAN BROTHERS ASIA LTD

    Citation
    RE LEHMAN BROTHERS ASIA LTD
    Court
    Court of First Instance
    Case number
    HCCW442/2008

    The remuneration of provisional liquidators appointed under section 193 and continuing in office after a winding up order under section 194(1)(aa) is to be assessed by the court under its inherent jurisdiction (not by operation of section 196(2)); the Maxwell Principles govern assessment; Winding Up Rules references to "provisional liquidator" introduced in 2000 should be read to target provisional liquidators appointed under s194(1A) and do not extend mandatory taxation requirements to s193 provisional liquidators continuing under s194(1)(aa); the provisional liquidation period ends when the…

  • 27 Aug 2009

    RE LEHMAN BROTHERS SECURITIES ASIA LTD

    Citation
    RE LEHMAN BROTHERS SECURITIES ASIA LTD
    Court
    Court of First Instance
    Case number
    HCCW437/2008

    The court held that provisional liquidators appointed under section 193 and who continued in office after a winding up order under section 194(1)(aa) have their remuneration assessed by the court in the exercise of its inherent jurisdiction; assessment is governed by the Maxwell Principles; agents' fees employed by provisional liquidators do not require mandatory taxation under the Winding Up Rules absent statutory applicability or subsequent challenge when accounts are passed; the period of provisional liquidation ends only when the court appoints liquidators following meetings; the judge wi…

  • 27 Aug 2009

    RE LEHMAN BROTHERS FUTURES ASIA LTD

    Citation
    RE LEHMAN BROTHERS FUTURES ASIA LTD
    Court
    Court of First Instance
    Case number
    HCCW438/2008

    The court held that provisional liquidators appointed under section 193 and continuing in office after a winding up order under section 194(1)(aa) have their remuneration assessed by the court in exercise of its inherent jurisdiction both before and after the making of the winding up order until a liquidator is appointed; the 2000 amendments and the definition of "liquidator" should be read as directed at provisional liquidators appointed under section 194(1A) (a drafting correction), not as converting s193 provisional liquidators into statutory liquidators under s196(2); Maxwell principles a…