Company: CLIK
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003127
Chunk: 163

Company: Click Holdings Ltd.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 163
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 us or our directors or officers that are predicated upon the civil liability provisions of the federal securities laws of the U.S. or the securities laws of any state in the U.S., or (2) entertain original actions brought in the BVI against us or our directors or officers that are predicated upon the federal securities laws of the U.S. or the securities laws of any state in the U.S. We have been advised by Ogier, that the U.S. and the BVI do not have a treaty providing for reciprocal recognition and enforcement of judgments of courts of the U.S. in civil and commercial matters and that a final judgment for the payment of money rendered by any general or state court in the U.S. based on civil liability, whether or not predicated solely upon the U.S. federal securities laws would not be enforceable in the BVI. We have also been advised by Ogier that a final and conclusive judgment obtained in U.S. federal or state courts under which a sum of money is payable as compensatory damages (i.e., not being a sum claimed by a revenue authority for taxes or other charges of a similar nature by a governmental authority, or in respect of a fine or penalty or multiple or punitive damages) may be the subject of an action on a debt in the court of the BVI under the common law doctrine of obligation. Prior to the rendering of the judgment by the courts of the BVI; there is due compliance with the correct procedures under the laws of the BVI. However, the BVI courts are unlikely to enforce a judgment obtained from U.S. courts under civil liability provisions of the U.S. federal securities law if such judgment is determined by the courts of the BVI to give rise to obligations to make payments that are penal or punitive in nature. Because such a determination has not yet been made by a court of the BVI, it is uncertain whether such civil liability judgments from U.S. courts would be enforceable in the BVI. A BVI court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere. David Fong & Co., our counsel with respect to Hong Kong law, has advised us that judgment of U.S. courts will not be directly enforced in Hong Kong. There are currently no treaties or other arrangements providing for reciprocal enforcement of foreign judgments between Hong Kong and the U.S. However, the common law permits an action to be brought upon a foreign judgment. That is to say, a foreign judgment itself may form the basis of a cause of action since