Company: MASK
Filing Date: 2025-01-10
Form Type: 424B4
Source: 0001213900-25-002376
Chunk: 134

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-01-10
Form: 424B4
Chunk 134
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 basis and a cause for the suit. However, it will be difficult for foreign shareholders to establish sufficient nexus to the PRC by virtue only of holding our Class A Ordinary Shares. LCH Lawyers LLP has further advised us that foreign judgments of United States courts will not be directly enforced in Hong Kong as there are currently no treaties or other arrangements providing for reciprocal enforcement of foreign judgments between Hong Kong and the United States and the statutory registration scheme under the Foreign Judgments (Reciprocal Enforcement) Ordinance (Cap. 319, the laws of Hong Kong) does not apply to judgments of the United States. 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 the judgment may be regarded as creating a debt between the parties to it. In a common law action for enforcement of a foreign judgment, the judgment creditor has to prove that the foreign judgment is a final judgment conclusive upon the merits of the claim. Such a judgment must be for a fixed sum and must also come from a “competent” court as determined by the private international law rules applied by the Hong Kong courts. The defences that are available to a defendant in a common law action brought on the basis of a foreign judgment include lack of jurisdiction, breach of natural justice, fraud, and contrary to public policy. This means that a separate legal action for debt must be commenced in Hong Kong in order to recover such debt from the judgment debtor in respect of the judgments of United States courts. As a result, subject to the requirements with regard to enforcement of foreign judgments (including those of United States courts) by way of a common law action in Hong Kong being met, including but not limited to the above, and subject to any defences available to a defendant in the relevant common law action, a foreign judgment of United States of civil liabilities predicated solely upon the federal securities laws of the United States or the securities laws of any State or territory within the United States could be enforceable in Hong Kong. For enforcement of a judgment of mainland China courts in civil and commercial matters (“Mainland judgment”) in Hong Kong, it is governed by a separate regime. With effect from January29, 2024, the registration of a Mainland judgment in Hong Kong is subject to various requirements under the Mainland Judgments in Civil and Commercial Matters (Reciprocal Enforcement) Ordinance (Cap. 645, the laws of Hong Kong) with certain exclusions, one