Hong Kong Case Law: Decisions & Judgments

Topic

Sufficiency of security

Legal area

Court

20 Mar 2024

RE SILVER BASE (HOLDINGS) LTD

Citation

[2024] HKCFI 855
Court

Court of First Instance
Case number

HCCW20/2023

Leave to appeal the stay application is refused because the applicant failed to show arguable error in the winding-up decision: the authorities relied upon were inapplicable or distinguished, the petitioner is an undisputed creditor, the company has not shown security sufficient to the petitioner's reasonable satisfaction, and the alleged valuation dispute does not negate the unpaid debt.
23 Feb 2024

RE SILVER BASE (HOLDINGS) LTD

Citation

[2024] HKCFI 586
Court

Court of First Instance
Case number

HCCW20/2023

Both the application for leave to appeal out of time and the stay application were dismissed because the Company’s delay in applying for leave was substantial and inexcusable, the Company failed to demonstrate a real prospect of success on the merits (the security/valuation point was not arguable and the principal defence was not pursued), and the balance of prejudice favoured the Petitioner and creditors so a stay was not justified.
6 Mar 2009

YEN NING LING v. DESCARTES INVESTMENT MANAGEMENT LTD

Citation

YEN NING LING v. DESCARTES INVESTMENT MANAGEMENT LTD
Court

Court of First Instance
Case number

HCA136/2009

The court found the defendant's CMT defence to be a late afterthought and the securities under the June Security Agreement to be effectively inadequate (One Silversea excluded and realistic realizable security approx HK$4m); material non-disclosure did not vitiate the ex parte order because the judge had been informed of the existence of securities and the plaintiff lacked knowledge of the bank indebtedness; accordingly the ex parte injunction should continue on revised terms and the defendant's summons (including request to discharge the injunction and for security for costs) was dismissed w…

Hong Kong Case Law

RE SILVER BASE (HOLDINGS) LTD

RE SILVER BASE (HOLDINGS) LTD

YEN NING LING v. DESCARTES INVESTMENT MANAGEMENT LTD