Arbitral Digest

Matter

G v N (High Court of Hong Kong HCCT 38/2021, HCCT 28/2023 and HCCT 52/2023; [2023] HKCFI 3366)

  1. 23 April 2021Arbitration

    23 April 2021Arbitration

    Interim Preservation Order dated 23 April 2021

    Decision summary
    The arbitrator granted an interim preservation order restraining N from disposing of approximately US$90 million in consideration monies paid under the share placement, or their traceable proceeds.

    Supporting details

    2 participants
    G
    N

    6 days later · 6 days

  2. 29 April 2021Hong Kong

    29 April 2021Hong Kong

    Court order enforcing the interim preservation order dated 29 April 2021

    Court of First Instance of the High Court of Hong Kong

    Decision summary
    The Court granted leave to enforce the arbitral tribunal's interim preservation order as an order of the court, restraining N and companies controlled by it from transferring or disposing of the consideration monies and their traceable proceeds.

    Supporting details

    2 participants
    G
    N
    Court of First Instance of the High Court of Hong Kong

    1 year, 11 months and 8 days later · 707 days

  3. 6 April 2023Arbitration

    6 April 2023Arbitration

    First Partial Award dated 6 April 2023

    Decision summary
    The arbitrator found the placement illegal, dismissed G's personal restitutionary claim and proprietary restitutionary claim based on unclean hands, and upheld N's counterclaim for damages arising from unlawful act conspiracy and/or dishonest assistance without quantifying damages.

    Supporting details

    2 participants
    G
    N

    3 months and 22 days later · 113 days

  4. 28 July 2023Arbitration

    28 July 2023Arbitration

    Second Partial Award dated 28 July 2023

    Decision summary
    The arbitrator quantified the damages payable by G to N at US$11,096,822 and US$1,924,541.53, with interest and costs.

    Supporting details

    2 participants
    G
    N

    5 months and 1 day later · 154 days

  5. 29 December 2023Hong Kong

    29 December 2023Hong Kong

    Decision of the Court of First Instance of the High Court of Hong Kong in cases HCCT 38/2021, HCCT 28/2023 and HCCT 52/2023 dated 29 December 2023

    Court of First Instance of the High Court of Hong Kong

    Case no.
    HCCT 38/2021; HCCT 28/2023; HCCT 52/2023
    Citation
    [2023] HKCFI 3366
    Decision summary
    The Court suspended the setting-aside proceedings for three months under Article 34(4) of the Model Law and remitted the matter to the arbitrator to consider whether the awards were affected by Hong Kong public policy on illegality. It dismissed G's separate challenge based on Clause 6.10(e), continued the order enforcing the interim preservation order, and ordered G to pay 20% of the setting-aside costs to N on an indemnity basis, with the balance reserved.

    Supporting details

    15 authorities · 10 participants
    G
    Representative
    Benjamin Yu SC (For: G)
    Representative
    Tom Ng (For: G)
    Representative
    Stevenson, Wong & Co (For: G)
    N
    Representative
    Jin Pao SC (For: N)
    Representative
    Zenith Chan (For: N)
    Representative
    Gall (For: N)
    Court of First Instance of the High Court of Hong Kong
    Other
    Witness
    Cricenti

    Authorities cited

    15
    • Tinsley v Milligan ([1994] 1 AC 340)
      case-law
    • Patel v Mirza ([2017] AC 467)
      case-law
    • Betamax v State Trading Corp ([2021] UKPC 14)
      case-law
    • Monat Investment Ltd v All Person(s) In Occupation of Part of The Remaining Portion of Lot No 591 in Mui Wo DD 4 No 16 Ma Po Tsuen, Mui Wo, Lantau Island (CACV 448/2020; [2023] HKCA 479)
      case-law
    • Taylor v Bhail ([1996] CLC 377)
      case-law
    • Holman v Johnson (98 ER 1120)
      case-law
    • BAZ v BBA ([2018] SGHC 275)
      case-law
    • C v D (FACV No 1 of 2023)
      case-law
    • Hebei Import & Export Corp v Polytek Engineering Co Ltd ((1999) 2 HKCFAR 111)
      case-law
    • Pang Wai Hak v Hua Yunjian ([2012] 4 HKLRD 113)
      case-law
    • A v B ([2015] 3 HKLRD 586)
      case-law
    • British Virgin Islands Business Companies Act
      statute
    • Hong Kong Arbitration Ordinance
      statute
    • UNCITRAL Model Law on International Commercial Arbitration
      statute
    • Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention) (Convention on the Recognition and Enforcement of Foreign Arbitral Awards)
      treaty

Matter record

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G v N (High Court of Hong Kong HCCT 38/2021, HCCT 28/2023 and HCCT 52/2023; [2023] HKCFI 3366) · Matter