Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Settlement apportionment
  • 19 Nov 2018

    FRANCOIS NGO v. COMMISSIONER OF INLAND REVENUE

    Citation
    [2018] HKCFI 2516
    Court
    Court of First Instance
    Case number
    HCIA1/2018

    The application for leave was out of time because the one‑month statutory period ran from the date the Board's decision reached the appellant's address and valid service on the Commissioner was not effected within that period; the Court has no power to extend the statutory s69(3) time limit and, on the merits, the Board was correct that the First Sum (less agreed non‑taxable PILON component) was paid in substance to settle employment claims and is therefore taxable; claims to exclude US$8,500, unspecified interest and legal costs or to reclassify parts as partnership or consideration for rest…

  • 9 Jan 2015

    RE THE GRANDE HOLDINGS LTD

    Citation
    RE THE GRANDE HOLDINGS LTD
    Court
    Court of First Instance
    Case number
    HCCW177/2011

    The court admitted McVitie’s proof for voting purposes in part at US$26,092,345.29. The admission reflects that the Kayne creditors received recoveries (US$4,000,000 from Emerson and US$28,000,000 under the sale/settlement) which reduce the amount provable to avoid double recovery; where apportionment between purchase of the judgment and settlement of co-obligor claims is uncertain, the court will admit only the quantifiable net amount and allow the Provisional Liquidators’ reduction to stand.