INCE & CO 英士律師行
Southwest Securities (HK) Brokerage Ltd v Michael Ng Kwok Wing & another (CACV 250/2020)
HK Court of Appeal, 20-May-2021
Having filed an appeal, Mr Ng failed to appear and his case was dismissed. The plaintiff's cross-appeal, for a judgment debt rather than damages, succeeds, and Mr Ng owes $163.5m plus 30% p.a. since 16-Apr-2019 under the terms of the facility agreement in event of default.
HK Court of Appeal, 20-May-2021
Having filed an appeal, Mr Ng failed to appear and his case was dismissed. The plaintiff's cross-appeal, for a judgment debt rather than damages, succeeds, and Mr Ng owes $163.5m plus 30% p.a. since 16-Apr-2019 under the terms of the facility agreement in event of default.
Southwest Securities (HK) Brokerage Ltd v Michael Ng Kwok Wing & others (HCA 1200/2019)
HK Court of First Instance, 11-Jun-2020
The court awards summary judgment to Southwest Securities against Nieumarkt Investments Ltd and Michael Ng Kwok Wing, who belatedly claimed a hidden collateral agreement that he was just a nominee on behalf of Southwest to takeover Celebrate (8212), which the judge calls "not reasonably capable of belief". Curiously, the 3rd defendant, Alan Lee Yuk Lun, is not involved in this application.
HK Court of First Instance, 11-Jun-2020
The court awards summary judgment to Southwest Securities against Nieumarkt Investments Ltd and Michael Ng Kwok Wing, who belatedly claimed a hidden collateral agreement that he was just a nominee on behalf of Southwest to takeover Celebrate (8212), which the judge calls "not reasonably capable of belief". Curiously, the 3rd defendant, Alan Lee Yuk Lun, is not involved in this application.
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