RE INTERNATIONAL PEACEFUL INTERESTS LTD.

RE INTERNATIONAL PEACEFUL INTERESTS LTD.

Application dismissed because the applicant failed to demonstrate a prima facie entitlement to a definite or approximate sum recoverable and failed to provide evidence of a real risk of dissipation of the proceeds; further, the unexplained delay by the applicant undermined the case for interlocutory preservation or an account, so the mandatory conditions for Mareva-type relief and for an equitable account were not satisfied.

Citation
RE INTERNATIONAL PEACEFUL INTERESTS LTD.
Parties
Applicant/purchaser: International Peaceful Interests Ltd.; Respondent/vendor: Cheung On Leasehold Property Limited; Respondent/vendor: Trans Continental Investment & Development Services Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
6 June 1985
Case Number
HCMP195/1983
Procedural Posture
Civil Equitable Relief (rescission, Equitable Lien) / Interlocutory (chambers) Application for Account and Restraining Orders Pre Trial
Outcome
Summonses dismissed with costs.
Legal Topics
Equitable Lien, Rescission of Contract, Mareva Injunction Principles, Account of Proceeds, Interlocutory Relief, Statutory Duties of Companies
Source Language
EN
Equity Contract Company Law Civil Procedure Injunctions Equitable Lien Rescission of Contract Mareva Injunction Principles +3 more

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Parties

International Peaceful Interests Ltd.

Applicant/purchaser

Cheung On Leasehold Property Limited

Respondent/vendor

Trans Continental Investment & Development Services Limited

Respondent/vendor

Procedural Posture

Civil Equitable Relief (rescission, Equitable Lien) / Interlocutory (chambers) Application for Account and Restraining Orders Pre Trial

Legal Issues

  1. 1 Whether the applicant is entitled to an account of the proceeds of sale
  2. 2 Whether an interlocutory restraining order should be made to prevent dissipation of proceeds
  3. 3 Whether the applicant has a strong prima facie case and will recover a certain or approximate sum

Ratio Decidendi

Application dismissed because the applicant failed to demonstrate a prima facie entitlement to a definite or approximate sum recoverable and failed to provide evidence of a real risk of dissipation of the proceeds; further, the unexplained delay by the applicant undermined the case for interlocutory preservation or an account, so the mandatory conditions for Mareva-type relief and for an equitable account were not satisfied.

Court Disposition

Summonses dismissed with costs.

Orders

  • Summonses dismissed with costs.