Jurisdiction(s):
United Kingdom

Hong Kong CFI: Set-aside challenge fails; parties must present key issues, with tribunal not faulted for omitting defences absent from issues list and submissions (X and YCo v ZCo)

Published on: 04 October 2024

Published by a LexisNexis Arbitration expert

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Article summary

X and YCo v ZCo [2024] HKCFI 695

What are the practical implications of this case?

The tribunal is not obliged to trawl through all documents and materials to locate the issues; it is for the parties to identify the key questions put to the tribunal for decision.
The Hong Kong Courts will give short shrift to parties attempting to overturn awards on matters not addressed in opening and closing submissions for the hearing.
Where a list of issues is agreed, parties must ensure every critical point is included, as it is the court’s ‘useful starting point’ when determining what issues were before the tribunal.

What was the background?

The plaintiffs entered into a Share Subscription and Purchase Agreement (SPA) under which ZCo purchased shares in the company from the second plaintiff (YCo). Upon completion of the SPA, ZCo held 65% of the company’s shares, with YCo retaining the remaining 35%...

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