China Properties Group Limited v JIC Trust Co., Ltd (Hong Kong Court of Final Appeal FACV No. 8 of 2026; [2026] HKCFA 34)

Procedural record

1. 14 October 2026Hong Kong

   14 October 2026Hong Kong

   Reasons for Judgment of the Court of Final Appeal of the Hong Kong Special Administrative Region in the case FACV No. 8 of 2026 (Civil) dated 14 October 2026

   Court of Final Appeal of the Hong Kong Special Administrative Region

   Case no.

   FACV No. 8 of 2026 (Civil)

   Citation

   [2026] HKCFA 34

   Decision summary

   The Court unanimously dismissed China Properties Group Limited's appeal against the winding-up order. It held that the Mainland consent judgment was final and conclusive and established JIC Trust's standing as a creditor; an alleged assignment of the underlying debt went to standing, not the Court's jurisdiction. The Court also made costs-related orders concerning the appeal's funders and joined parties.

   Participants

   China Properties Group Limited

   Representative

   Rimsky Yuen (For: China Properties Group Limited)

   Representative

   Martin Kok (For: China Properties Group Limited)

   Representative

   Lo, Wong & Tsui (For: China Properties Group Limited)

   JIC Trust Co., Ltd

   Representative

   Laurence Li (For: JIC Trust Co., Ltd)

   Representative

   Keith Chan (For: JIC Trust Co., Ltd)

   Representative

   Jonathan Fung (For: JIC Trust Co., Ltd)

   Representative

   YTL LLP (For: JIC Trust Co., Ltd)

   Court of Final Appeal of the Hong Kong Special Administrative Region

   Judge

   Andrew Cheung

   Judge

   R A V Ribeiro

   Judge

   Joseph Fok

   Judge

   M H Lam

   Judge

   Patrick Keane

   Authorities cited

   34

   • Companies (Winding Up and Miscellaneous Provisions) Ordinance (Hong Kong, Cap. 32) (Companies (Winding Up and Miscellaneous Provisions) Ordinance, Cap. 32)
     statute
   • Law Amendment and Reform (Consolidation) Ordinance (Hong Kong, Cap. 23) (Law Amendment and Reform (Consolidation) Ordinance, Cap. 23)
     statute
   • High Court Ordinance (Hong Kong, Cap. 4) (High Court Ordinance, Cap. 4)
     statute
   • Companies Ordinance (Hong Kong, Cap. 622) (Companies Ordinance, Cap. 622)
     statute
   • Rules of the High Court (Hong Kong, Cap. 4A) (Rules of the High Court, Cap. 4A)
     statute
   • Hong Kong Court of Final Appeal Ordinance (Cap. 484) (Hong Kong Court of Final Appeal Ordinance, Cap. 484)
     statute
   • Civil Procedure Law of the People's Republic of China (Civil Procedure Law of the PRC, Article 216)
     statute
   • Nouvion v Freeman ((1889) 15 App Cas 1)
     case-law
   • First Laser Ltd v Fujian Enterprises (Holdings) Co Ltd ((2012) 15 HKCFAR 569)
     case-law
   • Bank of China Ltd v Yang Fan ([2016] 3 HKLRD 7)
     case-law
   • Chiyu Banking Corp Ltd v Chan Tin Kwun ([1996] 2 HKLR 395)
     case-law
   • Jiang Xi An Fa Da Wine Co Ltd v Zhan King ([2019] HKCFI 2411)
     case-law
   • Beijing Renji Real Estate Development Group Co Ltd v Zhu Min ([2022] HKCFI 1027)
     case-law
   • Brownlie v FS Cairo (Nile Plaza) LLC ([2022] AC 995)
     case-law
   • Kapoor v National Westminster Bank plc ([2012] 1 All ER 1201)
     case-law
   • Re Steel Wing Co Ltd ([1921] 1 Ch 349)
     case-law
   • Parmalat Capital Finance Ltd v Food Holdings Ltd ([2009] 1 BCLC 274)
     case-law
   • Hip Hing Timber Co Ltd v Tang Man Kit ((2004) 7 HKCFAR 212)
     case-law
   • Mulkerrins v PricewaterhouseCoopers ([2003] 1 WLR 1937)
     case-law
   • Alipour v Ary ([1997] 1 WLR 534)
     case-law
   • Re Russian and English Bank ([1932] 1 Ch 663)
     case-law
   • Re Claybridge Shipping Co SA ([1997] 1 BCLC 572)
     case-law
   • Re S Y Engineering Company Limited (CACV 1896/2001 (27 February 2002))
     case-law
   • In re Consolidated South Rand Mines Deep Ltd ([1909] WN 66)
     case-law
   • In re Photographic Artists' Co-operative Supply Association ((1883) 23 Ch D 370)
     case-law
   • High Fashion New Media Corporation Limited v Leong Ma Li ([2026] HKCFA 31)
     case-law
   • Penta Investment Advisers Limited v Allied Weli Development Limited (CACV 58/2016 (18 July 2017))
     case-law
   • Ladd v Marshall ([1954] 1 WLR 1489)
     case-law
   • Dicey, Morris and Collins on the Conflict of Laws, 16th edition (Dicey, Morris and Collins on the Conflict of Laws, 16th Ed (2022))
     academic
   • The Conflict of Laws in Hong Kong, 4th edition (Paul Harris SC, The Conflict of Laws in Hong Kong, 4th Ed (2025))
     academic
   • Hong Kong Private International Law (Wilson Lui and Anselmo Reyes, Hong Kong Private International Law (2025))
     academic
   • Meagher, Gummow and Lehane's Equity: Doctrines and Remedies, 5th edition (Meagher, Gummow and Lehane's Equity: Doctrines and Remedies, 5th Ed (2015))
     academic
   • The Law of Assignment, 3rd edition (Smith and Leslie, The Law of Assignment, 3rd Ed (2018))
     academic
   • McPherson and Keay: The Law of Company Liquidation, 5th edition (McPherson and Keay, The Law of Company Liquidation, 5th Ed (2021))
     academic