Practice Directions

PRACTICE DIRECTION – 16.2

JUDGMENT: FOREIGN CURRENCY

1. Subject to any order which the court may make in any particular case, the following practice shall be followed in relation to the making of claims and the enforcement of judgments expressed in a foreign currency.

2. Entry of judgment in foreign currency

A judgment may be entered in foreign currency by adapting the relevant Forms in R.S.C., App.A as follows:

“It is adjudged that the Defendant do pay to the Plaintiff (state the sum in foreign currency for which Judgment has been ordered) or the Hong Kong dollar equivalent at the time of payment.”

3. Transfer to the District Court

In an action for a debt or liquidated demand expressed in foreign currency regard will be had, for the purposes of s.40 of the District Court Ordinance, to the Hong Kong dollar equivalent of the foreign currency claimed. This shall be indorsed and certified upon the writ in the following manner:

Hong Kong dollar equivalent of amount claimed　　　　　　I/We certify at the rate current in Hong Kong for the purchase of (state the unit of the foreign currency claimed) at the close of business on the　　　day of　　　　　　19　　　(being the date next or most nearly preceding the date of the issue of the Writ) was　　　to the $ Hong Kong and at this rate the debt or liquidated demand claimed herein, namely (state the sum of the foreign currency claimed) amounts to $　　　　　　　　

Dated the　　day of　　　　　　19　　　　

Signed

(Solicitor for the Plaintiff).

4. Payment of foreign currency into court in satisfaction

In an action for the recovery of a debt or liquidated demand, whether in Hong Kong dollars or in foreign currency, the defendant may pay into court in satisfaction of the claim, under R.S.C., O.22 r.1, a sum of money in foreign currency by adapting Form 23 in App.A.

5. Orders for conditional payment of foreign currency into court

Where the court makes a conditional order for payment of money into court, [e.g. when granting conditional leave to defend on an application for summary judgment under O.14, or when setting aside a default judgment or granting an adjournment] the court may further order that such money should, if practicable, be placed in a foreign currency account which is interest bearing.

6. Interest on judgment debt in foreign currency

A judgment entered in foreign currency will carry the statutory rate of interest on the amount of the judgment in foreign currency. Such interest will be added to the amount of the judgment itself for the purposes of enforcement of the judgment.

7. Enforcement of judgment debt in foreign currency by writ of fi. fa.

(a) Where the plaintiff wishes to enforce a judgment expressed in foreign currency by the issue of a writ of fieri facias, the praecipe for the issue of the writ must first be indorsed and signed by or on behalf of the solicitor of the plaintiff, or by the plaintiff if he is acting in person, with the following certificate:

Hong Kong dollar equivalent of Judgment　　　　　I/We certify that the rate current in Hong Kong for the purpose of (state the unit of the foreign currency in which the Judgment is expressed) at the close of business on the　　day of　　　　　　19　　(being the date nearest or most nearly preceding the date of the issue of the Writ of Fi.Fa.) was 　　　　to $ Hong Kong and at this rate the sum of (state the amount of the Judgment debt in foreign currency) amounts to $　　　　　　　　

Dated the　　　day of　　　　　　19　　　　

Signed　　　　

(Solicitor for the Plaintiff).

(b)　The amount so certified will then be entered in the writ of fi. fa. by adapting R.S.C., App.A, Form 53 to meet the circumstances of the case but substituting the following recital:

Whereas in the above named action it was on the　　day of　　　　　19 　adjudged [or ordered] that the Defendant C.D. do pay the Plaintiff A.B. (state the sum of the foreign currency for which Judgment was entered) or the Hong Kong dollar equivalent at the time of payment, and whereas the Hong Kong dollar equivalent at the date of issue of this Writ is $　　　　as appears by the Certificate indorsed and signed by or on behalf of the Plaintiff on the Praecipe for the issue of this Writ.

8. Enforcement of judgment debt in foreign currency by garnishee proceedings

(a) Where the plaintiff wishes to enforce a judgment expressed in foreign currency by garnishee proceedings, the affidavit made in support of an application for an order under R.S.C., O.49 r.1 must contain words to the following effect:

The rate current in Hong Kong for the purchase of (state the amount of the Judgment
in foreign currency) at the close of business on the　 day of　　　　　　19　　　　　　
was　　　　　to $ Hong Kong and at this rate the said sum of　　　　　　　　　　 amounts to $　　　　　　　　. I have ascertained the above information
(state the source of the information) and verily believe the same to be true.

The Registrar will then make an order nisi for the dollar equivalent of the judgment debt as so verified.

(b) Where the plaintiff wishes to attach a debt due or accruing due to the defendant within the jurisdiction in the same unit of foreign currency as that in which the judgment debt is itself expressed, the affidavit made in support of an application for an order under R.S.C., O.49 r.1 must state all the relevant facts relied on. In such event the Registrar may make the order to attach such debt due or accruing due in that foreign currency.

9. Enforcement of judgment debt in foreign currency by other means

   Where the plaintiff wishes to enforce a judgment expressed in a foreign currency by other means of enforcement,
   [e.g. by obtaining an order imposing a charge on land or interest in land or on securities under R.S.C., O.50 r.1,
   or by obtaining an order for the appointment of a receiver by way of equitable execution, under R.S.C., O.51]
   the affidavit made in respect of any such application shall contain words similar to those set out in para.8(a) above.
   The Registrar will make an order for the dollar equivalent of the judgment expressed in foreign currency as so
   verified by such affidavit.