CHU KONG (SUING ON BEHALF OF HIMSELF AND ALL OTHER SHAREHOLDERS IN (I) OCEAN SINO LTD (EXCEPT LAU WING YAN) AND (II) PBM ASSET MANAGEMENT LTD) V. LAU WING YAN AND OTHERS

[2026] HKCA 1004 Court of Appeal 29 May 2026 • CACV373/2023 • 55 min read

24 cases cited (1 HK, 23 foreign)

Outcome

Appeal dismissed

the appeal are dismissed, he should bear the costs of the Stay Summons, whichever way one looks at it.

Source: [2026] HKCA 1004, Court of Appeal, decided 29 May 2026. Read directly from the judgment.

Judges (3)

Cheng Coram Chu Coram Kwan Coram

Counsel (9)

Adrian Elms & Co Firm Dentons Hong Kong LLP Firm Reynolds Porter Chamberlain Firm Anson Wong Counsel Defendant Jonathan Ng Counsel Defendant Justin Ho Counsel Defendant Lai Chun Ho Counsel Defendant Tommy Cheung Counsel Defendant Victor Joffe Counsel Defendant

Parties (7)

CHU KONG (suing on behalf of himself and all other shareholders in (i) Ocean Sino Limited (except LAU WING YAN) and (ii) PBM Asset Management Limited) Plaintiff Ocean Sino Limited Defendant Pbm Asset Management Limited Defendant Chan Pui Sze Nichole Defendant John Nicholas Greenwood Defendant Lau Wing Yan Defendant Yen Ching Wai David Defendant

Case Significance

Chu Kong (suing on behalf of himself and all other shareholders in (I) Ocean Sino Ltd (except Lau Wing Yan) and (II) PBM Asset Management Ltd) v. Lau Wing Yan and Others [2026] HKCA 1004 is a Court of Appeal decision dated 29 May 2026 concerning a shareholder claim brought on behalf of Ocean Sino Ltd and PBM Asset Management Ltd. The Court of Appeal's disposition addressed a Stay Summons and its costs, holding: "the appeal are dismissed, he should bear the costs of the Stay Summons, whichever way one looks at it."

The decision refers to prior authority including Re BGA Holdings Ltd (formerly known as Beibu Gulf Ocean Shipping (Group) Ltd) (and 1 other) [2025] HKCA 322, Re USUM Investment Group Ltd [2026] HKCFI 1320, and The Official Receiver v. Yen Ching Wai, David (aka David Yen Ching Wai) and Another [2024] HKCFI 546.

What did the Court of Appeal decide in Chu Kong v. Lau Wing Yan and Others ([2026] HKCA 1004)?

In Chu Kong (suing on behalf of himself and all other shareholders in Ocean Sino Ltd and PBM Asset Management Ltd) v. Lau Wing Yan and Others [2026] HKCA 1004, the Court of Appeal dismissed the appeal and ordered that the appellant bear the costs of the Stay Summons.

What prior authorities did the court reference in the Chu Kong appeal ([2026] HKCA 1004)?

The Court of Appeal's decision in [2026] HKCA 1004 referred to authorities including Re BGA Holdings Ltd [2025] HKCA 322, Re USUM Investment Group Ltd [2026] HKCFI 1320, and The Official Receiver v. Yen Ching Wai, David [2024] HKCFI 546.

Statutes Cited

Rules of the High Court (Cap 4A)

Cases Cited (24)

SG (1)

[2018] SGHC 87

UK (4)

[1954] 1 WLR 1489 [1986] 1 WLR 1134 [2008] UKPC 23 [2015] AC 1675

HK (19)

[2003] 2 HKLRD 945 [2006] 4 HKLRD 516 [2010] 5 HKLRD 1 [2014] 1 HKLRD 849 [2015] 1 HKC 450 [2015] 2 HKLRD 264 [2018] HKCFI 1234 [2020] 2 HKLRD 423 [2020] 4 HKC 365 [2021] HKCA 1149 [2021] HKCFI 948 [2022] 4 HKLRD 793 [2022] HKCA 1723 [2023] HKCA 983 [2023] HKCFI 240 [2023] HKCFI 2703 [2024] HKCFI 546 [2025] HKCA 322 [2026] HKCFI 1320