Commercial litigation

• AFH Hong Kong Stores, Limited: Acting for a subsidiary of Abercrombie & Fitch Co (NYSE: ANF) in High Court actions against its former landlord for recovery of rental deposit of over HK$40 million which was due to be returned after early determination of a lease for its four-storey flagship store in Pedder Building, Central. Resisting the landlord’s counterclaim for costs of restoring the premises to its original layout and damages for loss of rental income. The matter is recently taken to the Court of Final Appeal.
• Changchun High & New Technology Industries Development Parent Co: Representing the Chinese-SOE in defending a High Court action brought by Mr Sun Tian Gang, a former chairman and a majority shareholder of Geomaxima Energy Holdings Limited (HKEX: 702), who alleged that the defendants had conspired to deprive him of his 54.8% interests in the listed company when he was detained in the PRC between 2005 and 2012. Various allegations of use of fraudulent schemes and forged documents were raised and pleaded.
• Lane Xang Minerals Limited: Representing a subsidiary of Chifeng Jilong Gold Mining Co., Ltd. (SHSE:600988), which owns and operates a major gold and copper mine in Laos, in pursuit of claims against Qingdao Guolin Environmental Technology Co., Ltd (SZSE:300786) for its supply of defective oxygen compressors which caused an explosion and a subsequent fire at the mine. Value of the claims is estimated to exceed US$46 million.
• A wind power facilities builder: Applying for an urgent interlocutory injunction to restrain a Hong Kong licenced bank from making payment under an unconditional on-demand bank guarantee of EUR 58.4 million and to restrain the client’s counterpart from seeking payment under the bank guarantee pending determination of the parties’ disputes in an arbitration.
  

Company

• Re New Bright International Development Limited: Acting for the 70% shareholder of the company in gaining control over the company and its subsidiaries, whilst defending an unfair prejudice petition (and several other satellite proceedings) issued by the other 30% shareholder, who claimed a right to equal participation in the management of the group under an alleged oral agreement. The company holds vast network of subsidiaries that carried on multinational business, including oil and gas exploration projects in various African countries, and was valued at over HK$42.9 billion.
• Re PBM Asset Management Limited: Defending a liquidator who has been appointed as a director of the company and sued under a multiple derivative action by an ultimate beneficial owner of the company, whose misfeasance is being investigated by the liquidator. Successfully applied for an order striking out the entire action on grounds of lack of locus, lack of proper factual bases, and issue estoppel.
  

Insolvency

• Re BGA Holdings Limited: Acting for the company’s 49% minority shareholder on recovery of its US$36 million shareholder’s loan and investigation of questionable transfers of major operating assets of the company that were arranged by its former management, including the disposal of the company’s dry bulk trading/chartering businesses and two operating vessels. Successfully obtained five favourable decisions from the Hong Kong Court, putting the company into compulsory liquidation, procuring the appointment of liquidators of the shareholder’s choice, and defending an appeal against the order for appointment of liquidators.
• Liquidators of a Hong Kong recruitment agency: Acting for the agency, under instructions of its liquidators, in pursuing High Court action against its former directors and their corporate vehicles on grounds of breach of trust and diversion of company’s business, revenue and funds that were either unaccounted for or used to acquire landed properties. Amount claimed exceeded HK$40 million.
• Re Ozner Water International Limited: Advising a group of creditors in relation to the restructuring of Ozner Water International Limited (HKEX: 2014) that involved a creditors’ scheme of arrangement.