Matter
CNG v G and Another (High Court of Hong Kong HCCT 29/2023; [2024] HKCFI 575)
- 8 February 2023Arbitration
8 February 2023Arbitration
First Partial Award
Hong Kong International Arbitration Centre
- Decision summary
- The tribunal found for the G Parties on the Share Transfer Claim. It held that CNG's Notice Letter was an irrevocable Transfer Notice under the Shareholders' Agreement, that the G Parties accepted it within the stated period, and that CNG was bound to sell its SIL shares to the G Parties for US$86.32 million. The Defaulting Shareholder Claim was alternative and required no operative order after the decision on the Share Transfer Claim.
Supporting details
3 participantsCNG
G
G
Hong Kong International Arbitration Centre
1 year and 19 days later · 384 days
- 27 February 2024Hong Kong
27 February 2024Hong Kong
Reasons for Decision of the High Court of the Hong Kong Special Administrative Region, Court of First Instance in the case HCCT 29/2023 dated 27 February 2024
High Court of the Hong Kong Special Administrative Region, Court of First Instance
- Citation
- [2024] HKCFI 575
- Decision summary
- The Court dismissed CNG's application to set aside the First Partial Award. It rejected CNG's complaints that the tribunal had failed to deal with key issues or give reasons, that CNG had been unable to present its case, and that the arbitral procedure had departed from the parties' agreement. It found no public-policy ground for setting aside the Award and ordered CNG to pay the G Parties' costs on an indemnity basis, with a certificate for three counsel.
Supporting details
10 authorities · 12 participantsCNG
- Representative
- Teresa Cheng (For: CNG)
- Representative
- Jason Yu (For: CNG)
- Representative
- Natalie So (For: CNG)
- Representative
- Linklaters (For: CNG)
G
- Representative
- Benjamin Yu (For: G · G)
- Representative
- Ali Malek (For: G · G)
- Representative
- Danny Tang (For: G · G)
- Representative
- Gibson, Dunn & Crutcher (For: G · G)
G
- Representative
- Benjamin Yu (For: G · G)
- Representative
- Ali Malek (For: G · G)
- Representative
- Danny Tang (For: G · G)
- Representative
- Gibson, Dunn & Crutcher (For: G · G)
High Court of the Hong Kong Special Administrative Region, Court of First Instance
- Judge
- Mimmie Chan
- Date not availableArbitration
Date not availableArbitration
Order under the Defaulting Shareholder Claim
Hong Kong International Arbitration Centre
- Decision summary
- The tribunal reserved power to give further or other directions in respect of the Share Transfer Claim and the Defaulting Shareholder Claim.
Supporting details
3 participantsCNG
G
G
Hong Kong International Arbitration Centre