Falcon Private Bank Ltd v. Borry Bernard Edouard Charles Ltd and Another

HCA 1934/2011

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

ACTION NO. 1934 OF 2011

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D E C I S I O N

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1.This is an application to adjourn the hearing date of the striking out summons and the summons for the discharge of the Mareva injunction fixed before Mr Recorder Houghton on 21 January 2014.

2.For the purpose of this application, the plaintiff accepts that this court should not make a general order to stay the execution of the judgment of the Court of Appeal pending the appeal to the Court of Final Appeal.  This is a matter for the Court of Appeal.

3.In such case, the plaintiff only seeks to stay the proceedings herein on the ground of the gagging order issued by the Swiss Authority.  In this regard, the parties may seek to file further evidence about such issue, and so it is not appropriate for me to make a final determination on the matter.

4.Mr Lam, counsel for the plaintiff, then seeks to vacate the hearing date on 21 January 2014 based on case management consideration.  Mr Lam suggests that two days may not be sufficient for the hearing itself.

5.However, I am not prepared to vacate the hearing date because such decision may in effect amount to, or may be regarded as, a stay of the execution of the judgment of the Court of Appeal.

6.Further, I have managed to reserve one more day for the hearing before Mr Recorder Houghton and so this case management consideration is no longer a valid one.

7.It would be very difficult for the court to find an additional hearing date before 21 January 2014, and so I adjourn the plaintiff’s stay application to be heard by Mr Recorder Houghton on 21 January 2014 together with the summons to discharge the Mareva injunction and to strike out the plaintiff’s claim.

(David Lok) Deputy High Court Judge

Mr Douglas Lam, instructed by Lipman Karas, for the plaintiff

Mr Colin Wright, instructed by Stephenson Harwood, for the 1st and 2nd defendants