Court of First Instance considered principles applicable to ordering security for costs against a Hong Kong company with its centre of management and control outside Hong Kong

2 December 2019 -- In a dispute over alleged share options granted by China Maple Leaf Educational Systems Limited ("China Maple Leaf") (a company listed on the Main Board of HKEX), the Court of First Instance considered the principles applicable to a security for costs application by China Maple Leaf where (1) the Plaintiff is a company incorporated in Hong Kong, but with its centre of management and control on Mainland and (2) China Maple Leaf has raised a number of countercliams involving inter alia alleged insider dealing and misrepresentation made by the Plaintiff.  The Judgment of the Court of First Instance in Hong Kong Zhixin Financial News Agency Ltd v China Maple Leaf Educational Systems Limited [2019] HKCFI 2921 can be found here.  Tony Ko acted for China Maple Leaf.