KARAS SO LLP 祁卓信蘇期殷律師行(有限法律責任合夥)
Tenwow (ex-1219) v PwC HK & PwC Zhong Tian LLP
HK Court of First Instance, 30-Sep-2024
Justice Anthony Chan criticises the defence for "8 pages of dense arguments" which are not proper grounds of appeal. "A carpet-bombing strategy was adopted where every conceivable point is taken or reargued." He refuses leave to appeal but grants a 7-day stay so that PwC can appeal directly to the Court of Appeal.
HK Court of First Instance, 30-Sep-2024
Justice Anthony Chan criticises the defence for "8 pages of dense arguments" which are not proper grounds of appeal. "A carpet-bombing strategy was adopted where every conceivable point is taken or reargued." He refuses leave to appeal but grants a 7-day stay so that PwC can appeal directly to the Court of Appeal.
Tenwow (ex-1219) v PwC HK & PwC Zhong Tian LLP
HK Court of First Instance, 2-May-2024
Liquidators of the food and beverage maker allege negligence by PwC, the IPO accountants and auditors for 2013-2017, by failing to detect alleged defalcations, causing loss of RMB 3.1bn. PwC ZT claims it can't release 1500 audit documents without approval from mainland authorities and needs a Letter of Request from HK courts. Justice Anthony Chan rejects this.
HK Court of First Instance, 2-May-2024
Liquidators of the food and beverage maker allege negligence by PwC, the IPO accountants and auditors for 2013-2017, by failing to detect alleged defalcations, causing loss of RMB 3.1bn. PwC ZT claims it can't release 1500 audit documents without approval from mainland authorities and needs a Letter of Request from HK courts. Justice Anthony Chan rejects this.
China Metal Recycling (ex-0773) v UBS AG
| Companies (Winding-up) Rules
HK Court of First Instance, 20-Jul-2022
Oops! Paragraphs of the liquidators' writ against sponsor UBS are struck out, because under High Court Rules for companies winding up, the claims should have been made by summons, not writ. The obvious question is: why didn't the solicitors, Karas LLP, advise their client of this? Notably the writ was filed only a day before the 6th anniversary of liquidators' appointment, after which the claim would be time-barred. Now the question is whether the Summons will be time-barred.
HK Court of First Instance, 20-Jul-2022
Oops! Paragraphs of the liquidators' writ against sponsor UBS are struck out, because under High Court Rules for companies winding up, the claims should have been made by summons, not writ. The obvious question is: why didn't the solicitors, Karas LLP, advise their client of this? Notably the writ was filed only a day before the 6th anniversary of liquidators' appointment, after which the claim would be time-barred. Now the question is whether the Summons will be time-barred.
Re Mark Taylor Simpson QC
HK Court of First Instance, 31-Oct-2019
The liquidators of China Forestry Holdings Co Ltd apply to admit a UK silk to help them sue KPMG, the auditor, for over HK$1.3bn. Acting Chief Judge Jeremy Poon rejects the proposition that Solicitor-Advocates, who now have rights of audience, are an acceptable alternative to junior barristers to assist the QC. The Bar Council sent 2 Senior Counsel and 2 juniors to oppose the application, while the Secretary for Justice supported it. The quasi-trade union wins. Mr Simpson must be assisted by local barristers.
HK Court of First Instance, 31-Oct-2019
The liquidators of China Forestry Holdings Co Ltd apply to admit a UK silk to help them sue KPMG, the auditor, for over HK$1.3bn. Acting Chief Judge Jeremy Poon rejects the proposition that Solicitor-Advocates, who now have rights of audience, are an acceptable alternative to junior barristers to assist the QC. The Bar Council sent 2 Senior Counsel and 2 juniors to oppose the application, while the Secretary for Justice supported it. The quasi-trade union wins. Mr Simpson must be assisted by local barristers.
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