Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Valuation of securities

Legal area

Court

6 May 2024

SKY MOTION HOLDINGS LTD v. CHINA CREATE CAPITAL LTD

Citation

[2024] HKCFI 1123
Court

Court of First Instance
Case number

HCA1151/2019

The court found the Plaintiff had abandoned specific performance when it sought damages on 7 April 2020 and fixed that date as the date of assessment; accordingly damages were assessed at market value of the Subject Shares and Subject Notes as at 7 April 2020, awarding HK$534,756,391 plus interest at HSBC prime +1% from 7 April 2020 to judgment and thereafter at judgment rate; costs awarded to the Plaintiff.
21 Jan 2019

RE LAU TSZ MING

Citation

[2019] HKCFI 170
Court

Court of First Instance
Case number

HCB4302/2018

The debtor's estoppel defence failed because the alleged oral representations were inconsistent with and could not vary the clear, unconditional written guarantee which the debtor signed; the representations were commercially implausible and unsupported by the evidence; even if a cap had existed there remained an undisputed unpaid portion so the statutory demand and petition were valid; no real prospects of success on the related appeal were shown to justify a stay or adjournment — accordingly a bankruptcy order was appropriate.