Arbitral Digest

Matter

China Everbright Securities Value Fund SPC v Simplicity & Vogue Retailing (HK) Co., Limited (Hong Kong Court of Appeal CACV 183/2023)

  1. 30 May 2023Hong Kong

    30 May 2023Hong Kong

    Reasons for judgment of the High Court of Hong Kong in the case HCCW 457 of 2022 dated 30 May 2023

    High Court of Hong Kong

    Case no.
    HCCW 457 of 2022
    Citation
    [2023] HKCFI 1443
    Decision summary
    The High Court refused Simplicity & Vogue Retailing (HK) Co., Limited's request for an extension of time and an adjournment because there was no credible evidence that it could comply with the condition to pay the petition debt into court. The court made a winding-up order on 22 May 2023 and found the Company's discharge defence wholly without merit.

    Supporting details

    3 participants
    China Everbright Securities Value Fund SPC
    Simplicity & Vogue Retailing (HK) Co., Limited
    High Court of Hong Kong

    10 months and 24 days later · 329 days

  2. 23 April 2024Hong Kong

    23 April 2024Hong Kong

    Judgment of the Court of Appeal of the High Court of Hong Kong in the case CACV 183/2023 dated 23 April 2024

    Court of Appeal of the High Court of Hong Kong

    Case no.
    CACV 183/2023
    Citation
    [2024] HKCA 299
    Decision summary
    The Court of Appeal dismissed Simplicity & Vogue Retailing (HK) Co., Limited's appeal against the winding-up order made on China Everbright Securities Value Fund SPC's petition. It held that the Company had not provided sufficient evidence that the petition debt was genuinely disputed or that the dispute would be referred to arbitration, and that its discharge defence was wholly without merit. The Company was ordered to pay the petitioner's appeal costs, with a certificate for two counsel.

    Supporting details

    17 authorities · 12 participants
    China Everbright Securities Value Fund SPC
    Representative
    Eva Sit (For: China Everbright Securities Value Fund SPC)
    Representative
    Danny Tang (For: China Everbright Securities Value Fund SPC)
    Representative
    Herbert Smith Freehills (For: China Everbright Securities Value Fund SPC)
    Simplicity & Vogue Retailing (HK) Co., Limited
    Representative
    Clifford Smith (For: Simplicity & Vogue Retailing (HK) Co., Limited)
    Representative
    Tommy Cheung (For: Simplicity & Vogue Retailing (HK) Co., Limited)
    Representative
    W K To & Co (For: Simplicity & Vogue Retailing (HK) Co., Limited)
    Court of Appeal of the High Court of Hong Kong
    Other
    Institutional administrator
    Official Receiver

    Authorities cited

    17
    • Hong Kong Companies (Winding Up and Miscellaneous Provisions) Ordinance, Cap. 32 (Companies (Winding Up and Miscellaneous Provisions) Ordinance, Cap. 32)
      statute
    • Hong Kong Companies (Winding-up) Rules, Cap. 32H (Companies (Winding-up) Rules, Cap. 32H)
      statute
    • Hong Kong Arbitration Ordinance, Cap. 609 (Arbitration Ordinance, Cap. 609)
      statute
    • Re Lam Kwok Hung Guy, ex p Tor Asia Credit Master Fund LP ((2023) 26 HKCFAR 119)
      case-law
    • Re Lam Kwok Hung Guy, ex p Tor Asia Credit Master Fund LP ([2022] 4 HKLRD 793)
      case-law
    • Re Southwest Pacific Bauxite (HK) Limited ([2018] 2 HKLRD 449)
      case-law
    • But Ka Chon v Interactive Brokers LLC ([2019] 4 HKLRD 85)
      case-law
    • Sit Kwong Lam v Petrolimex Singapore Pte Ltd ([2019] 5 HKLRD 646)
      case-law
    • Arjowiggins HKK 2 Limited v Shandong Chenming Paper Holdings Limited ([2024] HKCA 352)
      case-law
    • Arjowiggins HKK 2 Limited v Shandong Chenming Paper Holdings Limited ([2023] HKCFI 2065)
      case-law
    • Simplicity & Vogue Retailing (HK) Co., Limited ([2023] HKCFI 1443)
      case-law
    • Re Sun Sang Kong Yuen Shoes Factory Co Ltd ([2015] 4 HKLRD 52)
      case-law
    • Re Chinaplus Wines Ltd (HCCW 220/2016, 21 November 2016)
      case-law
    • Salford Estates (No 2) Ltd v Altomart Ltd (No 2) ([2015] Ch 589)
      case-law
    • Hollmet AG v Meridian Success Metal Supplies Ltd ([1997] HKLRD 828)
      case-law
    • Telnic Ltd v Knipp Medien und Kommunikation GmbH ([2020] EWHC 2075 (Ch))
      case-law
    • O'Donovan and Phillips, The Modern Contract of Guarantee, 4th edition
      academic

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China Everbright Securities Value Fund SPC v Simplicity & Vogue Retailing (HK) Co., Limited (Hong Kong Court of Appeal CACV 183/2023) · Matter