COURT OF FIRST INSTANCE.docx

COURT OF FIRST INSTANCE.docx

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COURTOFFIRSTINSTANCE

HCA1479/2009

INTHEHIGHCOURTOFTHE

HONGKONGSPECIALADMINISTRATIVEREGION

COURTOFFIRSTINSTANCE

ACTIONNO. 1479OF2009

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BETWEEN

HUICHIMING（previouslyknownasX）Plaintiff

and

KOONWINGYEE（官永義）1st Defendant

NGCHIKEUNG（吳志強）2nd Defendant

CHANKWAINAM（陳桂南）3rd Defendant

WONGCHINYICK（黃展億）4th Defendant

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Before:

HonPoonJinChambers

DatesofHearing:

8and9September2009

DateofDecision:

25September2009

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Decision

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A.Applications

TheplaintiffseeksthecontinuationoftheMarevainjunctiongrantedbyTong Jon25 June2009andcontinuedbyRecorder Fok, SCon3 July2009untiltrialorfurtherorderandfurtherdisclosureinaidoftheMarevainjunction.

ThedefendantsapplytodischargetheMarevainjunctiononthegroundsofnogoodarguablecase,norealriskofdissipationofassets,delayandmaterialnon-disclosure.Theyalsoopposetheapplicationforfurtherdiscovery,citingtheprivilegeagainstself-incriminationasthereason.

Thebackgroundcircumstancesgivingrisetotheseapplicationsmaybesummarizedasfollows.

B.Backgroundcircumstances

TheplaintiffisthechairmanandexecutivedirectorofSinoUnionPetroleum&ChemicalInternationalLimited,apubliclistedcompanyinHongKong（“theCompany”）.AmajorityshareholderoftheCompany,heholdsmorethan344 millionshares,whichrepresentsapproximately57.22%oftheCompany’stotalissuedcapital.

The1st defendantisabusinessman,whousedtobethechairmanofseverallistedcompanies.The2nd defendantisalicensedstockbrokerandamajorshareholderofCheerUnionSecuritiesLtd,asecuritiesbrokeragefirm.Sometimeinearly 2007,theplaintiffmetthe1st defendantthroughthe2nd defendant’sintroduction.Howclosewastherelationshipbetweentheplaintiffandthe1st defendantsincethenisindispute.I willreturntoitwhenIconsiderthequestionofmaterialnondisclosure.

Itistheplaintiff’scasethataftertheywereintroducedtoeachother,the1st defendantonoccasionstoldtheplaintiffthathehadincurredsubstantiallosstradingintheCompany’ssharesandaskedtheplaintifftohelphimoutwithout,however,indicatinghow.TheninearlyMarch 2009,the1st defendantturnedupuninvitedattheplaintiff’sofficeanddemandedtheplaintifftogivehim100 millionsharesintheCompany.Theplaintiffrefused.The1st defendantpersistedbutwasunsuccessful.Hethenleftinfitofpique.

Inhisfirstaffirmation,theplaintiffwentontosay :

“TheMarchIncidents

9.OneafternooninearlyMarch2009,D1cametomyOfficeuninvitedanddemandedthatIgivehim100millionsharesinmyCompany（‘theShares’）totiehimoverthesedifficulttimes.Irejectedthisdemandoutright,tellinghimthatIcouldnothelphimandthathisdifficultieswerenoneofmybusiness.D1insistedonmyhelpandevendeclaredthathewouldrepaymedoubleinthefuture.Ireiteratedmystanceandapologized.D1thenleftinfitofpique.

10.Shortlythereafterbeinganafternooninoraroundmid-to-lateMarch2009,IreturnedtomyOfficeafterlunchandnoticedtwounknownmenwaitinginthereceptionarea.Iaskedthemwhomtheywerelookingfor,towhichoneofthemrepliedthattheywerelookingfor‘Mr.X’.Ithereuponinvitedthemtotheconferenceroom.Onceinside,oneofthementoldmethattheyrepresentedD1andthattheyweretheretocollecttheShares.Theothermanlefttheconferenceroomandreturnedshortlywithanother7to8men,eachofwhomcarriedabackpack.Onemanidentifiedhimselfas‘DaiHuenGouDee…’（whoIlaterlearntisthe4th DefendanthereinWongChinYick（‘D4’））whospatoutinaveryloudvoicemynameinCantonese….ItoldD4thatIdidnotknowhimandhadnomonetarydealingswithD1.Ialsotoldthemtoleave,failingwhichIwouldcallthepolice.

11.D4becamefuriousandwarnedmeinanaggressivemannerthatifIeverreportedthemattertothepolice,hewouldburndownmyOffice.Atthesametime,thegroupofmenforcefullythrewdowntheirbackpacksonthefloormakingaloudclatter,thusrevealinginnouncertaintermsthepresenceofmetalimplementsinsidethebackpacks.

12.Apparentlyonoverhearingthecommotion,MrChingManKee（‘Ching’）,adirectorofmyCompany,burstintotheconferenceroomtofindoutwhatwasgoingon.ThegroupofmenthenmadethesamedemandofChing.OncemoreIaskedthementoleaveimmediatelyorelseIwouldcallthepolice.D4toldmeIhadthreedaystomakethenecessaryarrangementsorotherwisetheywould‘nottreatmewithcourtesy’andleft.Iwasterrifiedformyownpersonalsafety.IgenuinelybelievedthatimminentbodilyharmwouldbeinflictedonmeorsomeoneclosetomeunlessIyieldedtotheirdemand.

13.D1returnedtomyOfficethenextdayaccompaniedbyD2andtoldmethatD4hadalsoinvestedinmyCompany’ssharesandsufferedlosssuchthatD4wouldalsobenefitfromtheShareswhichIwasaskedtohandover.D1alsosaidthatshouldIrefusetohandovertheShares,IwouldsufferenormousconsequencesandthatD4’sgangwould‘dosomethingharmfultome”.IwasgiventounderstandthatD4wasassociatedwithawellknowtriadsocietyinHongKong.IaskedD1whetherhecouldshowmerecordsofhislosses.D1refusedandtoldmetocooperatewithhim.

14.D1toldmehewouldwithholddisposaloftheSharesforthreemonthsbutstressedthatImustarrangeforthetransferoftheSharesimmediatelyorelsealifewillbetakenaway.ItwasmadepatentlycleartomethatunlessIgaveD1andD4theShares,Iwouldsuffergrievousbodilyharmorbekilled.Further,IhadnodoubtinmymindthatthesewerenotemptythreatsandthattheDefendantswerefullycapableofcarryingthemoutifIdidnotyieldtotheirdemands,particularlyhavingregardtoD4’sinvolvement.

15.Underextremeduressandcoercion,IhadnoalternativebuttoyieldtotheirdemandfortheShares.D1toldmetheShareswouldbeheldinthenameofthe3rd Defendant,ChanKwaiNam（‘D3’）,andthatD2andD3wouldattendatmyOfficethenextdaytocompletetheformalities.

PurportedSharePurchaseAgreement

16.Intheeveningofthesameday,IcontactedZhouAiguo（‘Zhou’）whomIhaveknownforupwardsof10yearsandknewthatheheldasubstantialamountofsharesinmyCompany.ItoldhimIneededsharesinmyCompanyonanurgentbasisandofferedtobuy100millionsharesfromZhouatthepriceofHK$1.35pershare.IfurthertoldZhouthathewouldhavetotransfertheSharesdirectlytoD1orhisnomineeasthetransferhadtobeeffectedthenextdaybutIwouldpayhimthepurchasepricebyinstalments.ZhouacceptedmyofferstraightawayandagreedtoattendatmyOfficethenextdaytotransfertheSharestoD1orhisnominee.

17.Onorabout26thMarch2009,aSharePurchaseAgreementwasexecutedatmyOfficebyZhouasTransferor,D3asTransfereeandD2asGuarantortoeffectthepurportedtransferoftheSharesfromZhoutoD3（seepages12to13ofX-1）.TheSharePurchaseAgreementwaspreparedbyD2.TheconsiderationforthetransferoftheSharesisstatedasHK$135million,whichwaspaidbymeasdetailedbelow.TheSharesPurchaseAgreementalsoprovidedforalockupperiodofthreemonthsduringwhichD3couldnotdisposeoftheSharesandD2issaidtohavegivenanirrevocablepersonalguaranteeinrespectofD3’sobligation.BoughtandSoldNoteswerealsosignedonthesameday（seepage14ofX-1）.

TheAprilIncidents

18.IaminformedbyZhouandverilybelievethatD2contactedZhouintheafternoonof2ndApril2009requestingameetingassomesignaturesweremissing.ZhouagreedandarrangedtomeetD2insideacoffeeshopatUnionPlazainShenzhen,PRC.AssoonasZhouarrivedatthecoffeeshop,hewasimmediatelysurroundedbyD2andagroupof5to6men,allofwhombehavedinathreateningmanner.D2madeplaintoZhouthathewouldnotbeallowedtoleavethecoffeeshopunlesshesignedadocumentpurportingtoacknowledgereceiptfromD3ofanamountinRMBequivalenttoHK$135millionaspaymentfortheShares.

19.Zhou,fearingforhislifeandpersonalsafety,immediatelytelephonedmeandaskedmewhattodo.Zhoutoldmeoverthetelephonethathewassurroundedbyalargegroupofhostilemenandsoundedterrified.IwasextremelyworriedastherewasnodoubtinmymindthattheDefendantswouldstopatnothingtogetwhattheywanted.IthereforeurgedhimtosigntheReceipt（seepage15of‘X-1’）andleavethecoffeeshopimmediately,despitethefactthatnoconsiderationfortheShareswaseverpaidbyD3,D1,D2orD4.Inanyevent,IconsideredwhetherornotZhousignedtheReceiptmadelittleornopracticaldifferencesincethetransferoftheShareshadbeeneffected.ZhoulatertoldmethathebelievedhehadnoalternativebuttosigntheReceiptandwouldhavedonethesameevenifhehadnotbeenabletoreachmeatthetime.

20.Ataround1pmon3rdApril2009,ImetD1andD2attheMacauJockeyClubintheShunTakCentre.IwasaccompaniedbyChing.Duringthisevening,D1saidtomenowthatthematterhasbeensettledweshouldeachgoourseparateways.HealsomentionedthathewouldlatergiveusHK$1.5millionfor‘yumcha’i.e.asatokenofappreciation.Ididnotgivemuchthoughttothisatthetime.Subsequently,IlearntthatD2didinfactleaveHK$1.5millionatmyOfficebutItoldChingtotakeitasIdidnotwantD1’smoney.

21.IlaterdiscoveredthatD1andD3hadapparentlydisposedalloftheShareson3rd April2009forapproximatelyHK$77million（seepages16to19atX-1）.

DemandforFurtherShares

22.WhileIwasinIndon