CHU RU YING ALICE v. CITIBANK (HONG KONG) LTD

HCA 1820/2009

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

HIGH COURT ACTION NO 1820 OF 2009

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DECISION

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1.  This is an application of the plaintiff by summons dated 24 January 2013 for leave to adduce a joint supplemental expert report on bank practice and operations in respect of foreign exchange margin trading accounts.

2.  The matter was heard on 27 May 2013 and was adjourned to today and the plaintiff now agrees to withdraw the amended summons filed on 29 May 2013 and to pay the defendant’s costs.

3.  The parties have submitted a consent summons with the followings terms:

a. Leave to the plaintiff to withdraw the amended summons; and

b. Summary assessment of the defendant’s costs for the amended summons, including the costs reserved and the costs for the hearing on 27 May 2013, with counsel’s certificate and today’s hearing.

4.  The consent summons is indorsed in terms as proposed.

5.  The defendant has submitted a schedule of costs for summary assessment under Order 62 rule 9A, RHC.

6.  The defendant’s proposed costs are in the sum of $234,679.00.

7.  The plaintiff’s grounds of objection are that the costs and time charged by the solicitors and counsel are excessive.

8.  Having considered counsel’s written submissions and in light of the issues involved for the argument, which though did not take place because of the plaintiff’s withdrawal, I consider that the costs, including the costs for today’s hearing, assessed on a broad-brush approach, should be in the sum of $150,000 to be paid by the plaintiff to the defendant within 21 days from the date hereof.

9.  I shall now deal with the case management for the further proceedings in this matter.

10.  As the parties are ready for trial, except that they want to attempt further mediation in order to settle the matter, I shall give the following directions for setting down:

a. Leave to the plaintiff to set down within 42 days commencing on 8 October 2013 for a 5-day trial before a judge alone in the fixture list.  There be a pre-trial review before the trial judge for 30 minutes on a date 12 weeks before trial.  Parties shall prepare the agreed/certified translation for the Chinese documents, raise the issue of recusal of the trial judge, if any, and shall confirm the length of the trial by counsel in charge at the pre-trial review. Upon setting down, all interlocutory applications shall be listed to be heard by the Trial Judge or a Judge; and

b. The costs of this Case Management Conference (30 minutes) be in the cause.