Guo Wengui / Miles Guo — bankruptcy case · ECF #1409-23

METADATA

Defendant: Guo Wengui / Miles Guo / Ho Wan Kwok
Court: CTB
Case No.: 22-50073
ECF #: 1409
Type: UNKNOWN

FULL TEXT

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| | C 3 6 O /2 0 16 H M P 5 | |-------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | IN T H E H | IG H C O U R T O F T H E | | O G O G S C H N K N P E | IA A IS A L D M IN T R T IV E G IO R E N | | C O U R T O | F F IR S T IN S T A N C E | | M IS C E L L A N E O U S P | R O C E E D IN G S N O O F 2 0 16 3 5 6 0 | | | | | | IN T H E M A T T E R O F if ic A d P n es ac ri E (B V I ) im it ed (I L te n rp se s n | | | i id io ) L at qu n | | | d an | | | th in h IN T H E M A T T E R O F t e er en ju ri sd ic ti f th C rt o n o e ou | | B Y | | | T H E JO IN T A N D S E V E R A L L | I Q U ID A T O R S O F A li ts ca n | | P A C IF IC A N D E S E N T E R P R IS | p p E S (B V I ) L IM IT E D | | | | | | | | A N D | C 3 6 I/ 2 0 16 H M P 5 | | IN T H E H | IG H C O U R T O F T H E | | H O N G O G S P E C K N | IA L A D M IN IS T R A T IV E G IO R E N | | C O U R T O | F S F IR T IN S T A N C E | | IS C A O S M E L L N E U P | 3 56 1 R O C E E D IN G S N O O F 2 0 16 | | | IN T H E A d M T T E R O F P A R D T ra e L im it ed (I i id io ) L at n qu n | | | d an | | | A IN T H E M T T E R O F th in h t e er en | | | ju ri sd ic ti f th C rt o n o e ou | | B Y | | | T H E JO IN T A N D S A E V E R L L | Q A O S I U ID T R O F A li ts p p ca n | | P A R D A T R D E L IM IT E D | | | | | | | | | | |

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| A | A N D | C 3 6 2 H M P 5 | A /2 0 16 | |---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------| | B | H IG H C IN T H E | O O U R T F T H E | B | | | H O N G K O N G S P E C IA L A D | M IN IS T R A T IV E R E G IO N | | | C | O F IR C O U R T F | S T S A C IN T N E | C | | | M IS C E L L A N E O U S P R O C E | 3 5 6 2 E D IN G S N O O F 2 0 16 | | | D | | | D | | E | | O k IN T H E M A T T E R F P ar G L im it ed ( iq id io ) In L at ro u p u n | d m on E | | F | | d an | F | | G | | A th in IN T H E M T T E R O F e ju ri sd ic ti f th C rt o n o e ou | h t C er en | | H | | | 1-1 | | | B Y | | | | | A IQ T H E JO IN T N D S E V E R A L L U ID P A R K M O N D G O R U P | A O S T R O F A p p | li ts ca n | | J | L IM IT E D | | J | | | | | | | K | A N D | H C M P 3 56 | K 37 2 0 16 | | | IN T H E H IG H C | O O U R T F T H E | | | L | H O N G K O N G S P E C IA L A D | M IN IS T R A T IV E G IO R E N | L | | | C O U R T O F F IR | S T IN S T A N C E | | | M | M IS C E L L A N E O U S P R O C E | E D IN G S 3 5 6 3 N O O F 2 0 16 | | | N | | | N | | | | | | | 0 | | IN T H E A O S ol M T T E R F ar | F is h 0 | | | | T d in im it ed ( L In P ra g ro v iq id io ) L at u n | is io al n | | P | | | p | | | | d an | | | | | IN T H E M A T T E R O F th in e | h t er en | | | | ju ri sd ic ti th f C rt o n o e ou | | | R | | | R | | S | B Y | | S | | | T H E A S A JO IN T N D E V E R L P R O V IS | IO N A L L IQ U ID A T O R S A p p | li ts ca n | | T | IS O F S O L A R F H T R A D IN G L IM IT E | D | T | | | | | | | U | | | U | | | | | | | V | | | V |

Chambers

January

2017 -3-

2017

JanuaryDate of Reasons for Decision: 27 January 2017 REASONS FOR DECISION 1. On 18 November 2016 the East Caribbean Supreme Court ("Supreme Court") ordered the winding up of the following three companies, which are incorporated in the British Virgin Islands: (1) Pacific Andes Enterprises (BVI) Limited ("PAE"); (2) PARD Trade Limited ("PTL"); and (3) Parkmond Group Limited ("Parkmond"). On 25 November 2016 Solar Fish Trading Limited ("Solar Fish"), which is incorporated in the BVI, was also wound up by the Supreme Court. 2. The companies are part of a large corporate group. The ultimate holding company is Pacific Andes Resources Development Limited ("PARD"), which is incorporated in Bermuda and listed on the Main Board of the Singapore Stock Exchange. PARD is in turn part of another group of companies of which Pacific Andes International Holdings Limited ("PAll") is the ultimate holding company. PATH is controlled by the Ng Family, which holds the majority shares in N.S. Hong Investment (BVI) Limited, which in turn holds the majority shares in PATH. PATH owns approximately 66% of PARD through its subsidiary Clamford Holding Limited. PATH is listed on the Main Board of The Stock Exchange of Hong Kong Limited.

T Before: Hon

Date of

Date of Harris J in

> 17

Submission:

Written

Decision:

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te at to e or s ap p o en on u rm s w ou w em an v th ei in ti io f L R is ed b et te 19 D at t r v es g n s. rs o eq es er e u w su on ec em h f 2 0 16 T R sl ig h tl L d if fe d in in th ei et te t t e o eq es rs u u se y re n w or g in du ci ls th In f A d k d th P E P T L P ad tr ct ta o or re e ca se o y an ar rn on ey re , fo ll ow s: th O rd d Pu io 17 5( 1) of th nt to ct "# '. rs ua e er an se n e lv A In d ct so en cy no pe rs on m ay co m m en ce or ee pr oc , ith ti di ai th C ( in t an y ac on or pr oc ee ng w ag ns e om pa ny hi ch li id io ha d al ad d) at le th w qu n re y co m m en ce un ss e C he is de rt ot ou rw e or rs #. io 4( 1) Pu 28 of th lv nt to ct In A th ct rs ua se n e so en cy e , C de th ho th iq ui da rt at L to ou m ay or r an y pe rs on w e rs id is bl of iv in in fo io ni at co ns er ca pa e g g rm n co nc er ng th C d be te fo to e om pa ny or a co nn ec co m pa ny ap pe ar re th C fo in io ni rt th C at ou e r ex am n co nc er ng e om pa ny or a d in cl ud in th io te ot co nn ec co m pa ny g e pr om n, , fo io bu si de al in lia bi lit ie at ts ts rm n, ne ss gs ac co un as se s , , , af fa ir of th C d ." te or s e om pa ny or co nn ec co m pa ny th f la is h th S F d f th h ad In e ca se o o r e se co n o es e p ar ag ra p s re s: Th h be rin di ffe in ch of Le Re tte t. e pa ra gr ap nu m g rs ea r qu es | | 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-5-

A A "9. Pursuant to section 282(1) of the Insolvency Act, the B JPLs may, by notice in writing, require certain persons B (i) to provide the JPLs with such information concerning the Company, including the promotion, formation, business, dealings, accounts, assets, liabilities or affairs as the JPLs reasonably require, D (ii) to attend on the JPLs at such reasonable time and at D such place as may be specified in the notice; or (iii) to be examined on oath or affirmation by him, or by his E legal practitioner, on any matter referred to at (i) above." E F F 4. Paragraph 2 of the substantive request requests the following G assistance: i-i "The Liquidators have and may exercise such powers as are H available to them as a matter of BVI law (as set out above) and would be available to them under the laws of Hong Kong as if they had been appointed liquidators of the Company I under the laws of Hong Kong and in particular but without prejudice to the generality of the foregoing, for the following j purposes: K (a) to obtain from third parties such documents and K information as concern the Company, including its promotion, fonnation, business dealings, accounts, L assets, liabilities or affairs in order to facilitate the L Liquidators investigations into the assets and affairs M of the Company and the circumstances which gave M rise to its insolvency; N (b) to locate, protect, secure and take into their N possession and control all assets and property within the jurisdiction of the Hong Kong High Court to 0 which the Company is or appears to be entitled; 0 (c) to locate, protect, secure and take into their possession and control the books, papers, and records of the Company including the accountancy and Q statutory records within the jurisdiction of the Q Hong Kong High Court and to investigate the assets and affairs of the Company and the circumstances R which gave rise to its insolvency; R (d) to retain and employ barristers, solicitors or attorneys and/or such other agents or professional persons as the Liquidators consider appropriate for the purpose T of advising or assisting in the execution of their T powers and duties; and U U V V

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-6-

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G insolvency; andlor (ii) ancillary relief such as freezing orders, search H and seizure orders in any legal proceedings conmenced." I 5. In a series of decisions, principally (1) Joint Official J . Liquidators of A Company v B & C 2; (2) Re Joint Official Liquidators of K Centaur Litigation SPC 3; (3) Re G Lid4; (4) Re,ziiie Produce (Aust,) Ptv Ltd (in liquidation in Australia,) 5; (5) Bay Capital Asia Fund LP ('in L official liquidation) v DBS Bank (Hong Kong) Limited 6; and (6) BJB M Career Education Company Limited ('in provisional liquidation) ' I have explained the Hong Kong Companies Court's power to provide N assistance and recognition to a liquidator of a foreign incorporated 0 company appointed by the court of the company's place of incorporation if the insolvency laws of the place of incorporation grant similar powers to a liquidator to those available under our own insolvency legislation. It Q is not necessary for me to repeat what is already explained in the authorities to which I have referred. R

2 [201415 HKC 152 SUnreported, HCMP 3389/2015, HCMP 3391/2015, HCMP 3393/2015, 10 March 2016 1 [2016] 1 HKLRD 167 Unreported, HC'MP 1640/2016, 26 August 2016 T6 Unreported, HCMP 3104/2015,2 November2016 [2017] 1 HKLRD 113 U

F (e) so far as may be

effect the

above, to

their own

(i)

behalf of and

including any

applications

-7-

6. The increasing number of applications for recognition and assistance in recent years has allowed a form of order to emerge that this Court will generally be prepared to grant on written application made pursuant to a letter of request. Such applications can be granted very quickly. I note for the benefit of practitioners that although such applications are very familiar to me, they will not necessarily be familiar to other judges who hear company matters, and applications should comply with Practice Direction 3.5 and be accompanied by a paginated and indexed hearing bundle to assist the court in processing them quickly. In the present case it was not.

7. I am satisfied having read the supporting affirmations, the Letters of Requests and having regard to the principles explained in the authorities to which 1 have referred, that the orders sought by the K Liquidators should be granted. The form of order differs in one respect L from those that have been granted in recent cases. That is the proposed addition of sub-paragraph (a) referred to in paragraph 4 above. I agree M that expressly providing a power to this effect would probably assist the N Liquidators, but in my view the proposed wording might be read as giving them a right to obtain from third parties documents that the 0 Liquidators are not entitled to without an order of the Court pursuant to p section 221(3) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, Cap 32, or some other statutory or common law power. As the law in Hong Kong currently stands even under R section 221(3,) a liquidator only has the right to obtain documents "relating to the company", not documents, which cannot properly and 5 fairly be described as relating to the company, but concern its promotion T and the other matters referred to in section 221(1). This is explained in

-8-

Several

currently

order:

receive from third parties documents and concerning the Company and its promotion, dealings, accounts, assets, liabilities or cause of its insolvency. Liquidators are entitled to seek documentsin Hong Kong. Even if the decision in any event whether it for assistance in the form

Liquidators

under of

appeal. I am,

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however,

and

> ii

C/i iiia Medical is wrong, I doubtwould be H appropriate to grant an order sought by the Liquidators in sub-paragraph (a). The language of the order would need to avoid giving the impression that it places a third party under a J. . . . . compulsion to provide documents or information. This would need a Kfurther order of the Court under section 221(3) and it is the current practice of the Companies Court to require applications under section 221 Lto be made inter partes.

- M 8. I have appended to this decision the form of order granted. N 0 p (Jonathan HaITis) Judge of the Court of First Instance High Court R Clifford Chance, for the applicants (in all actions) -

8 [2015] 2 HKLRD 27

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