BILLION TREND DEVELOPMENT LTD v. TSO NATALIE AND OTHERS

HCA 1928/2021

[2021] HKCFI 3928

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

ACTION NO 1928 OF 2021

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DECISION

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1.  These are briefly my reasons for granting an interim interim injunction today. The Defendants are all ex-directors of the Plaintiff. Their directorship had been terminated pursuant to enforcement action taken by the Lender under a Security Deed dated 23 November 2020. However, the New Director, who has been put in place by the Lender, has not been able to obtain any meaningful information about the assets or the books of the Plaintiff despite much exchange in correspondence between the parties.

2.  The evidence before the court is that the main asset of the Plaintiff appears to have been stripped and that the ex-directors are simply playing a game of delay in not disclosing to the New Director what had happened to the assets and the books. The injunction seeks to obtain information on the whereabouts of the assets and books of the Plaintiff and the handing over of the same to it. 

3.  I fail to see, and it has not been identified to the court, what damage or prejudice to the Defendants there can be in granting the interim interim injunction.

4.  On the other hand, the damage to the Plaintiff is self-evident if relief is not granted without further delay, and it is not clear whether the Defendants are in the position to pay for such damage. The balance of justice in the circumstances is in favour of granting the interim interim injunction and I do so.