In Re China Properties Group Limited (in Liquidation)  HKCFI 2346, the Court had occasion to address two important aspects of Hong Kong’s present day liquidation regime: (1) how the Hong Kong court exercises its jurisdiction to wind up overseas-incorporated companies; and (2) how Hong Kong court-appointed liquidators can effectively carry out the winding-up.
In Re Luk Fai Holdings Co Ltd; Re Criteria Holdings Ltd  HKCFI 2268, the Companies Judge, Hon Linda Chan J, clarified the Court’s approach to the valuation of shares in the context of buy-out relief arising from unfair prejudice petitions. The decision provides welcome guidance on the question of whether and to what extent, in the context of assessing the fair market value of shares of a company holding real property, the court should deduct notional expenses which would have to be incurred in a hypothetical sale of the real properties held by the company. This question has hitherto never been considered by the Hong Kong courts.
In LYYC v CHL and CSMS, the Executrices of the Estate of CGSK also known as CSKG, Deceased and Another  HKCFI 1585, the Hon Madam Justice Bebe Chu dismissed an application by a former secretary of a deceased businessman (“Deceased”) for financial provision under s.3(1)(ix) of the Inheritance (Provision for Family and Dependents) Ordinance (Cap 481) against the executrices of the Deceased (1st Respondent) after a 10-day trial.
Following its recent judgment in Tam Sze Leung & Ors v. Commissioner of Police on the scope and constitutionality of police powers to restrict or “freeze” assets in bank accounts under the Organized and Serious Crimes Ordinance (“the Judgment”) through letters of “no consent”, the Court of Appeal on 15 August 2023 granted leave to the Applicants to appeal against the Judgment to the Court of Final Appeal, on four questions of great general or public importance: