Stanford International Bank Ltd (in liquidation) v HSBC Bank PLC[2021] EWCA Civ 535
Stanford International Bank Limited (“SIB”), which collapsed into liquidation in 2009, held multiple accounts with HSBC between 2003 to 2009 (“Accounts”). SIB had debts in excess of US$5 billion arising from its being used as the vehicle for one of the largest Ponzi schemes in history. The liquidators of SIB (“Liquidators”) made two claims against HSBC as follows:
Ho Man Kit And Another v Lo Siu Chu Judy And Another[2022] HKCFI 133
The Plaintiffs in this case were the joint and several trustees of Li Bao Tian (“B”), who was adjudged bankrupt on 7 December 2016. The 1st and the 2nd Defendants (collectively, “Defendants”) are mother and son. B was in an intimate relationship with the 1st Defendant, albeit whilst legally married to another woman and is the father of the 2nd Defendant.
Lee Siu Fung Siegfried[2021] 5 HKLRD 627
In January 2001, a bankruptcy petition was presented against Mr. Lee Siu Fung Siegfried in respect of a HK$322 million debt arising out of a guarantee given by him. In or around September 2016, the trustees in bankruptcy obtained an order for the private examination of Mr. Lee and the Applicants, who are the younger brother and son of Mr. Lee.
Nuoxi Capital Ltd (In Liquidation in the British Virgin Islands) v Peking UniversityFounder Group Co Ltd[2021] HKCFI 3817
Re Wang Huimin[2021] HKCFI 3472
The Bankrupt, Madam Wang, is a Chinese citizen and holds a PRC resident identity card. She has been residing in Shanghai since she was born. The Petitioner is Madam Wang’s younger brother.
Re Hsin Chong Construction Co Ltd (No 4)[2021] 5 HKLRD 489, [2021] HKCFI 3451
Re Ho Suet Hung[2021] HKCFI 3836
A bankruptcy order was made against the Bankrupt on 16 October 2018. Upon the consent of the Official Receiver, being the provisional trustee, the Bankrupt opened a bank account at Standard Chartered Bank (“SCB Account”) to receive her monthly salary. The Trustees were subsequently appointed whereupon the OR ceased to be provisional trustee.
Re Samson Paper Holdings Ltd[2021] 5 HKLRD 286
The Company convened a meeting of unsecured creditors for considering and approving a proposed scheme (“Scheme”) of arrangement restructuring the Company’s unsecured debt. The statutory majority required by section 674 of the CO was obtained and the Company issued a petition seeking the court’s sanction of the Scheme.
Excellent Asia (BVI) Ltd v Mas Media Group Ltd[2021] HKCFI 3605
In March 2020, the Petitioner presented a petition to wind up the Respondent company, which is incorporated in the Cayman Islands, on the ground of insolvency.
Failing to state in the Petition how the three core requirements are satisfied, the Petitioner subsequently took out a summons seeking to introduce a re-amendment to assert matters that are capable of satisfying the three core requirements.
In the recent case of Re Joint and Several Liquidators of Ozner Water International Holding Ltd 浩澤淨水國際控股有限公司 (In Liquidation) [2022] HKCU 940, the Hong Kong Court of First Instance (Hong Kong Court) granted an application by the liquidators (Liquidators) of Ozner Water International Holding Ltd. (Company) for a letter of request for recognition and assistance (Letter of Request) to be issued to the Shenzhen Intermediate People’s Court (Shenzhen Court).