CHINA METAL RECYCLING (HOLDINGS) LTD (IN LIQUIDATION) AND ANOTHER v. UBS AG AND ANOTHER

HCA 1348/2019

[2022] HKCFI 3786

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

ACTION NO 1348 OF 2019

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DECISION

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1.  I have some misgivings about the application of the slip rule for today’s purposes. The costs order which this court made in the Decision dated 20 July 2022 was one after having invited Senior Counsel to address the particular issue. According to the notes of the Plaintiffs’ solicitors, which are agreed by the 1^st Defendant and accords with the recollection of this court, the submissions made only concerned whether costs should follow the event. Further, I accept the submissions made on behalf of the Plaintiffs that it is not always the case that the costs of the claims which have been struck out should be awarded against the parties whose claims were struck out.

2.  As regards the immediate taxation of the costs of the application, it was not sought in the submissions made before the court. As I said, I am not entirely comfortable with the proposition that it was a matter which had been accidentally omitted by the court.

3.  I have considered carefully the submissions made by both sides. I am not satisfied that there is sufficient reason for the court to exercise its discretion and revisit the costs order which had been made. This is regardless of whether the slip rule can be properly applied. For these reasons, I dismiss the application.