TARGET INSURANCE COMPANY LTD (MANAGERS APPOINTED UNDER SECTION 35(2)(B) OF THE INSURANCE ORDINANCE (CAP 41)) V. NG YU AND OTHERS

[2025] HKCA 150 Court of Appeal 18 February 2025 • CACV64/2023 • 40 min read

4 cases cited (0 HK, 4 foreign) Cited by 4 cases

Judges (2)

Counsel (6)

DLA Piper Hong Kong Firm Lawrence Chan & Co Firm Jeff Yau Counsel Defendant Jonathan Chang Counsel Plaintiff Martin Ho Counsel Plaintiff Robert Whitehead Counsel Defendant

Parties (7)

Amber Hill Capital Limited Defendant Amber Hill Es Fund Spc Defendant Neo Tech Inc Defendant Target Insurance Company Limited (Managers Appointed Under Section 35(2)(b) of the Insurance Ordinance ( Cap 41 )) Plaintiff Yf Securities Pte. Ltd Defendant Lee Cheuk Fung Jerff Defendant Ng Yu Defendant

Case Significance

Target Insurance Company Ltd (Managers Appointed under Section 35(2)(B) of the Insurance Ordinance (Cap 41)) v. Ng Yu and Others [2025] HKCA 150 came before the Court of Appeal on 18 February 2025, concerning section 13B(2)(a) of the Insurance Ordinance in the context of a managed insurer.

The decision was subsequently referred to in later insurance and insolvency proceedings, including Target Insurance Company Ltd (In Compulsory Liquidation) v. Nerico Brothers Ltd [2025] HKCA 1024, Kwok Lai Sheung v. More Insurance Broker Company Ltd and Others (and 1 other) [2025] HKDC 2105, China Evergrande Group (In Liquidation) v. Hui Ka Yan and Others (and 1 other) [2026] HKCFI 723, and Evercare Health Ltd v. So Lai Kan Also Known as Gobby So and Others [2026] HKDC 230.

Summary

Appeal by Target Insurance Company Ltd (under management) against Ng Yu and several corporate defendants including Amber Hill ES Fund SPC and related entities. The case concerned proprietary and non-proprietary injunction claims arising from alleged mismanagement of insurance company assets. The Court of Appeal addressed complex issues of insurance regulation and asset recovery.

What statutory provision was central to Target Insurance Company Ltd v. Ng Yu and Others [2025] HKCA 150?

The Court of Appeal proceedings concerned section 13B(2)(a) of the Insurance Ordinance (Cap 41), arising in the context of managers appointed under section 35(2)(b) of the same Ordinance over Target Insurance Company Ltd.

Statutes Cited

Insurance Ordinance

s 13B(2)(a)

Cases Cited (4)

HK (4)

[2020] 6 HKC 81 [2022] HKCA 280 [2023] HKCFI 565 [2023] HKCFI 7

Cited By (4)

[2026] HKDC 230

EVERCARE HEALTH LTD V. SO LAI KAN ALSO KNOWN AS GOBBY SO AND OTHERS

[2026] HKCFI 723

CHINA EVERGRANDE GROUP (IN LIQUIDATION) V. HUI KA YAN AND OTHERS (and 1 other)

[2025] HKDC 2105

KWOK LAI SHEUNG V. MORE INSURANCE BROKER COMPANY LTD AND OTHERS (and 1 other)

[2025] HKCA 1024

TARGET INSURANCE COMPANY LTD (IN COMPULSORY LIQUIDATION) V. NERICO BROTHERS LTD

Citation influence

HKLII records this judgment as cited by 4 later judgments. This counts every later Hong Kong judgment that references this case, which is broader than the resolved citations listed above.

[2026] HKCFI 723 Court of First Instance

3 February 2026

[2026] HKDC 230 District Court

9 February 2026

[2025] HKDC 2105 District Court

17 December 2025

[2025] HKCA 1024 Court of Appeal

17 November 2025