Harris, Jonathan Russell (1957) 夏利士

Chong Hing Bank Ltd: privatisation by scheme of arrangement sanctioned
HK Court of First Instance, 18-Oct-2021
Citing a "lack of a meaningful response from the SFC", Justice Linda Chan appointed Winston Poon SC and Eva Sit SC as amici curiae (friends of the court) to opine on the meaning of Rule 2.10 of the Takeovers Code. In her judgment, this rule prohibits concert parties from voting at the court meeting, rather than simply requiring that their votes shall not be counted for the purposes of Rule 2.10. This is a different view that taken by Justice Jonathan Harris in the case of Cosmos Machinery Enterprises Ltd, but she regards his view as obiter (non-binding).
Cosmos Machinery Enterprises Ltd: privatisation by scheme of arrangement
HK Court of First Instance, 19-Jul-2021
The scheme was not approved by shareholders, but Justice Jonathan Harris addresses the issue of whether concert parties should be allowed to vote at the court meeting, with their votes being disregarded for the purpose of Takeovers Code Rule 2.10. He concludes that they should: "the Non-Prohibition View is the correct position… Had the necessary majority been obtained, the offeror concert parities shareholders’ votes would not have been counted for the purposes of determining whether or not Rule 2.10 had been satisfied."
Convoy Collateral Ltd v Roy Cho Kwai Chee & others
HK Court of Appeal, 3-Jul-2020
Convoy (1019) succeeds in its appeal, obtaining a restraining order against Roy Cho Kwai Chee over HK$654m of his assets in this Enigma Network case, ruling that Justice Jonathan Harris had erred on points of law (paragraph 55).
Master Glory (0275): winding up order
HK Court of First Instance, 1-Jun-2020
The 3 petitioners are all members of the China Huarong group. Of the supporting creditors, Advance Tech Ltd is owned by ITC Properties (0199) and Citizens Money Lending Corp Ltd is owned by Enerchina (0622). Justice Jonathan Harris writes that on the morning of the hearing, the company produced a "vague and unsophisticated" affirmation claiming that the "principal shareholder" (Allan Yap) is attempting to sell assets in the Mainland to settle debts. The judge calls the situation "ridiculous" and orders a winding-up.
Convoy Collateral Ltd v Roy Cho Kwai Chee & others
HK Court of First Instance, 7-May-2020
Leave to appeal is denied.
Convoy Collateral Ltd v Roy Cho Kwai Chee & others
HK Court of First Instance, 11-Mar-2020
Convoy (1019) fails to get a restraining order for HK$654m against Mr Cho.
Elliott International v BEA (0023) & others
HK Court of First Instance, 22-Jan-2020
The discovery battle continues.
Elliott International v BEA (0023) & others
HK Court of First Instance, 5-Nov-2019
The court allows expert witnesses on the practice of equity capital markets and equity valuation and analysis.
Elliott International v BEA (0023) & others
HK Court of First Instance, 15-May-2019
Chung Keng v Pearl Oriental Oil (0632)
HK Court of First Instance, 2-May-2019
"If it is possible for a company to obtain from the Exchange approval of the appointment of Ms Lyn it goes some way to explain why the Companies Court rather too frequently encounters examples of inadequate corporate governance by Hong Kong listed companies. I will be sending a copy of this decision to HKEx and I would hope that it will look into this matter." - Justice Jonathan Harris. Our comment: the judge misses the point. INEDs should be elected by independent shareholders. The INED system is a joke, so long as HKEX allows controlling shareholders to vote.
Elliott International v BEA (0023) & others
HK Court of First Instance, 16-Oct-2018
Elliott International v BEA (0023) & others
HK Court of First Instance, 7-Sep-2018
Justice Jonathan Harris grants Elliott permission to publish the Points of Defence and the Points of Reply, in the interests of open justice. The broader question, in our view, is why, in the 21st century, are written submissions and other documents for open hearings not filed electronically and made available for free via the judiciary web site?
Elliott International v BEA (0023) & others
HK Court of First Instance, 28-Aug-2018
10 months after a hearing, Jonathan Harris orders discovery on both sides, including "documents recording Elliott’s strategy at the time of its investment".
Elliott International v BEA (0023) & others
HK Court of First Instance, 13-Jul-2018
Nearly 11 months after his decision, Jonathan Harris gives reasons for dismissing BEA's strike-out petition. Elliott claims that the share placements to SMBC and Caixa and voting undertakings were for an improper purpose, to entrench control of BEA by David Li and his family. BEA claims that Elliott has a collateral purpose, to facilitate a takeover of BEA. Our view: when shareholders seek to remedy an alleged wrong done by the board of their company, the benefits that flow from that are irrelevant. In corporate governance, boards are accountable to shareholders, not the reverse.
Re: China Lumena New Materials Corp
HK Court of First Instance, 7-Feb-2018
This statement of reasons for decision took over 10 months to produce.
Shandong Chenming Paper (1812) v Arjowiggins HKK 2 Ltd
HK Court of First Instance, 17-Oct-2017
Justice Jonathan Harris is persuaded to change his indemnity costs order to a party-and-party basis.
Shandong Chenming Paper (1812) v Arjowiggins HKK 2 Ltd
HK Court of First Instance, 7-Jul-2017
Referring to Shandong Chenming Paper, Justice Jonathan Harris writes: "The Company’s refusal to honour the Award shows disregard for the integrity of our legal system and, in a non-technical sense at least, contempt for the High Court of Hong Kong" and "I consider it appropriate that the costs be assessed on an indemnity basis to reflect what in my view is the unethical conduct of the Company".
Re Grande (0186)
HK Court of Appeal, 24-Nov-2015
ASM Hudson River Fund wins its appeal, reversing the ruling of Judge Jonathan Harris. The court of appeal rules that the debt purchased from Deutsche Bank, relating to interest rate swaps, is neither contingent nor unliquidated, and therefore ASM had voting rights at the meeting of creditors. The fund is run by Argyle Street Management Ltd.
Elliott companies v BEA (0023) and its directors
HK Court of First Instance, 5-Jun-2015
Damning stuff - the proposed subscription by SMBC was dealt with by a memorandum from the Chairman/CEO David Li on 1-Sep-2004, with "the signing of the memorandum, without discussion, by all directors indicating their approval". No board meeting until 14-Jan-2015. "Goldman Sachs were only engaged after Elliott began to object to the Proposed Subscription...I do not think it takes an especially skeptical turn of mind to suspect that the Board wanted to justify its earlier decision if at all possible" - Justice Jonathan Harris.
Re Grande (0186)
HK Court of First Instance, 9-Jan-2015

Sign up for our free newsletter

Recommend Webb-site to a friend

Copyright & disclaimer, Privacy policy

Back to top