Read the full judgment text of HCCT 7/2020 on BabelCite. This 高等法院原訟法庭 judgment was delivered on 20 October 2023 before Hon Mimmie Chan J.
Construction and arbitration — Enforcement of arbitration award — Judgment creditor applying for appointment of receivers under section 21L of High Court Ordinance over shares held by judgment debtor in asset-holding company — Judgment debtor’s failure to comply with disclosure orders and non-cooperation causing practical difficulties in enforcement — Court applying principles in Cruz City v Unitech and local authorities — Holding that appointment of receivers just and convenient to assist enforcement — Receivers empowered to take possession and value assets, including valuable artwork — Dismissal of late application to set aside judgment — Refusal of interim injunction restraining dealing with artwork due to absence of necessity or urgency — Costs awarded to judgment creditor. Judgment creditor had obtained arbitral award for substantial sum and subsequent judgment against KO who owned shares in OFA holding HK$2.7 billion artwork, but KO obstructed enforcement by failing to disclose financial documents and other assets. The Court found that the usual execution methods were hindered; receivership would facilitate realization of assets and discharge judgment debt. The Court also rejected KO’s claim of not having possession of documents, affirming constructive possession principles. Additional injunctions sought were refused for procedural and substantive reasons.
Legal issues: Appointment of receivers under section 21L · Right to possession and disclosure of company documents · Whether to grant interim injunction restraining dealing with Artwork
Outcome: Application for appointment of receivers over the OFA Shares granted; interim injunction refused; costs awarded to BB
Cited by 2 cases · Cites 8 cases