Shenzhen Zhaotian Investments Co Ltd v. Henderson Land Development Co Ltd and Another
Read the full judgment text of CACV 79/2012 on BabelCite. This Court of Appeal judgment was delivered on 22 January 2013.
1. On 22 January 2013, I ordered the appellants to pay into Court $1.2 million as security for costs of their appeal.
Cites 2 cases
|
CACV 79/2012 IN THE HIGH COURT OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION COURT OF APPEAL CIVIL APPEAL NO. 79 OF 2012 (ON APPEAL FROM HCA 825 OF 2008) ________________________ BETWEEN
________________________ IN THE HIGH COURT OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION COURT OF APPEAL CIVIL APPEAL NO. 79 OF 2012 (ON APPEAL FROM HCA 899 OF 2009) ________________________ BETWEEN
________________________
________________________ REASONS FOR DECISION ________________________ 1.On 22 January 2013, I ordered the appellants to pay into Court $1.2 million as security for costs of their appeal. 2.The only issue I had to decide was on amount of the security. The appellants conceded that they have to pay security. The respondents asked for $1,620,000 which is to be apportioned as to ⅔ for the appeal from HCA 825/2008 and ⅓ for the appeal from HCA 899/2009. Of this sum counsel’s fee (two counsel) for the two day appeal is at $1,305,000. 3.The appellants without elaboration submitted that the amount of security should only be $600,000. Upon inquiry by me, Mr. Lee, counsel for the appellants, stated that counsel fees for the two counsel who will appear on appeal for the appellants will also exceed $1 million. Hence his suggestion that the security should only be at $600,000 was totally unrealistic. Bearing in mind the amount of the claim and the complexity of the case, I considered $1.2 million to be appropriate and I so ordered.
Mr Dick Lee, instructed by Fan Wong & Tso, for the Appellants Ms Eva Sit, instructed by Woo, Kwan, Lee & Lo, for the Respondents |
Cases cited in this judgment
Further hearings and rulings under CACV 79/2012