The Joint and Several Liquidators of Days Impex Ltd (in Liquidation) v. Mahesh Nanik Dayaram

HCCW 298/2011 & HCCW 299/2011
(HEARD TOGETHER)

[2025] HKCFI 1306

HCCW 298/2011

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES WINDING-UP PROCEEDINGS NO 298 OF 2011

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BETWEEN

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AND

HCCW 299/2011

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES WINDING-UP PROCEEDINGS NO 299 OF 2011

________________________

________________________

BETWEEN

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(HEARD TOGETHER)

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D E C I S I O N

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1.On 22 November 2024 and 24 January 2025 I handed down my decisions in these proceedings.

2.For the reasons explained in my decision dated 24 January 2025 one issue remained to be determined, namely, whether interest should be ordered and if so for what amount.  I directed that the parties serve further submissions.  Only the Liquidators did so.  The Liquidators have clarified that the sums ordered to be paid by Mr Dayaram in respect of unpaid import loans owed to banks is US$23,263,802.49 (in HCCW 298/2011)  and US$15,806,477.66 (in HCCW 299/2011).  This having been clarified and for the reasons given in my decision dated 24 January 2025 I will order that Mr Dayaram pays interest on those sums at 1% over Hong Kong prime from 12 December 2011 until the date of judgment and thereafter at the judgment rate until full payment.

3.I will make the orders in the terms of [103] and [104] of my judgment dated 22 November 2024. I will also order that payment of the judgment shall be made within 28 days from the date hereof.

Written submissions by Stephenson Harwood, for the liquidators (for both actions)