Global Mining Development L.P. and Gerald Metals LLC v China National Gold Group Hong Kong Limited

Procedural record

1. 8 February 2023Arbitration

   8 February 2023Arbitration

   First Partial Award dated 8 February 2023

   Participants

   Global Mining Development L.P.

   Gerald Metals LLC

   China National Gold Group Hong Kong Limited

   1 month and 23 days later · 51 days

2. 31 March 2023Arbitration

   31 March 2023Arbitration

   Tribunal order dated 31 March 2023

   Decision summary

   The tribunal ordered China National Gold Group Hong Kong Limited to transfer its 65% shareholding in Soremi Investments Ltd to Global Mining Development L.P.

   Participants

   Global Mining Development L.P.

   China National Gold Group Hong Kong Limited

   25 days later · 25 days

3. 25 April 2023British Virgin Islands

   25 April 2023British Virgin Islands

   Order of the British Virgin Islands Court enforcing the First Partial Award

   British Virgin Islands Court

   Decision summary

   The British Virgin Islands Court made an order enforcing the First Partial Award in the share-ownership dispute between the Gerald Parties and China National Gold Group Hong Kong Limited.

   4 months and 5 days later · 127 days

4. 30 August 2023Hong Kong

   30 August 2023Hong Kong

   Judgment in CNG v G dated 30 August 2023

   High Court of Hong Kong

   Citation

   [2024] HKCFI 575

   Decision summary

   The High Court of Hong Kong dismissed China National Gold Group Hong Kong Limited's application to set aside the British Virgin Islands Court order enforcing the First Partial Award.

   1 year and 18 days later · 384 days

5. 17 September 2024British Virgin Islands

   17 September 2024British Virgin Islands

   Order of the British Virgin Islands Court dated 17 September 2024

   British Virgin Islands Court

   Decision summary

   The British Virgin Islands Court appointed Cosimo Borrelli and Colin Wilson as interim receivers over the 65% shares pending resolution of the rectification application.

   9 months and 29 days later · 302 days

6. 16 July 2025British Virgin Islands

   16 July 2025British Virgin Islands

   Judgment of the British Virgin Islands Court dated 16 July 2025

   British Virgin Islands Court

   Decision summary

   The British Virgin Islands Court rectified the Register of Members of Soremi Investments Ltd to confirm that the 65% shares are held legally and beneficially by Global Mining Development L.P.

   2 months and 10 days later · 72 days

7. 26 September 2025Hong Kong

   26 September 2025Hong Kong

   Decision of the High Court of Hong Kong in the case HCA 797/2025 dated 26 September 2025

   High Court of Hong Kong

   Case no.

   HCA 797/2025

   Citation

   [2025] HKCFI 4514

   Decision summary

   The High Court of Hong Kong dismissed China National Gold Group Hong Kong Limited's application for a permanent stay of Soremi Investments Ltd's action in favour of arbitration. The court held that the claims concerning alleged misappropriation of Soremi Investments Ltd's assets fell outside the arbitration agreement in the shareholders' agreement and ordered the applicant to pay the application costs, subject to an order nisi.

   Participants

   Application

   China National Gold Group Hong Kong Limited's application for a permanent stay in favour of arbitration — Dismissed

   Soremi Investments Ltd

   Representative

   Charles Manzoni SC (For: Soremi Investments Ltd)

   Representative

   Karas So LLP (For: Soremi Investments Ltd)

   Representative

   Jason Karas (For: Soremi Investments Ltd)

   China National Gold Group Hong Kong Limited

   Representative

   Simon Chapman (For: China National Gold Group Hong Kong Limited · China National Gold Group Co., Ltd.)

   Representative

   Herbert Smith Freehills Kramer (For: China National Gold Group Hong Kong Limited · China National Gold Group Co., Ltd.)

   China National Gold Group Co., Ltd.

   Representative

   Simon Chapman (For: China National Gold Group Hong Kong Limited · China National Gold Group Co., Ltd.)

   Representative

   Herbert Smith Freehills Kramer (For: China National Gold Group Hong Kong Limited · China National Gold Group Co., Ltd.)

   High Court of Hong Kong

   Judge

   Eugene Fung

   Authorities cited

   12

   • Hong Kong Arbitration Ordinance (Cap 609)
     statute
   • Chu Kong v Lau Wing Yan ([2019] 1 HKLRD 589)
     case-law
   • Magnus Leonard Roth v Vitaly Petrovich Orlov ([2021] HKCA 639)
     case-law
   • Fiona Trust and Holding Corporation v Privalov ([2007] Bus LR 1719)
     case-law
   • Jumbo King Ltd v Faithful Properties Ltd ((1999) 2 HKCFAR 279)
     case-law
   • Investors Compensation Scheme Ltd v West Bromwich Building Society ([1998] 1 WLR 896)
     case-law
   • VK Holdings (HK) Ltd v Panasonic Eco Solutions (Hong Kong) Co Ltd (HCCT 19/2014)
     case-law
   • Polytec Overseas Ltd v Grand Dragon International Holdings Co Ltd ([2017] 3 HKLRD 258)
     case-law
   • Republic of Mozambique v Privinvest Shipbuilding SAL (Holdings) ([2023] Bus LR 1359)
     case-law
   • ACD Tridon Inc v Tridon Australia Pty Ltd ([2002] NSWSC 896)
     case-law
   • Kensland Realty Ltd v Whale View Investment Ltd ((2001) 4 HKCFAR 381)
     case-law
   • Uconinvest LLC v Jysan Holdings LLC et al ([2024] EWHC 1532 (Ch))
     case-law