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ARTICLE · 02 DECEMBER 2015

Yung Kee – The Final Word

Mayer Brown
Mayer Brown
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On 11 November 2015, the Court of Final Appeal ("CFA") delivered its judgment in the high-profile Yung Kee case.

Hong KongInsolvency/Bankruptcy/Re-Structuring
John Marsden
John Marsden
Thomas Pugh
Thomas Pugh
Richard Tollan
Richard Tollan
Edmund Ma
Edmund Ma
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Summary

On 11 November 2015, the Court of Final Appeal ("CFA") delivered its judgment in the high-profile Yung Kee case1. The CFA reversed the lower court's decision and decided Yung Kee Holdings Limited (the "Company"), incorporated in the BVI and indirectly holding the well-known Yung Kee restaurant, has sufficient connection with Hong Kong to trigger the Hong Kong court's winding-up jurisdiction, and to do so on just and equitable ground2.

The winding-up order has been stayed for 28 days to allow the parties to discuss the acquisition of the Petitioner's shares in the Company. The winding-up order will take effect automatically should no agreement be reached.

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