TAIHAN ELECTRIC WIRE CO LTD AND ANOTHER v. LEE CHI YUEN ARCTIC AND OTHERS

TAIHAN ELECTRIC WIRE CO LTD AND ANOTHER v. LEE CHI YUEN ARCTIC AND OTHERS

The interim Mareva injunction was refused because plaintiffs failed to demonstrate urgency and there was an element of abuse of process and duplication with an earlier action; additionally plaintiffs lacked a sufficiently particularised good arguable case against several defendants and had materially failed to disclose adverse matters, such that interim freezing relief was unjustified.

Citation
TAIHAN ELECTRIC WIRE CO LTD AND ANOTHER v. LEE CHI YUEN ARCTIC AND OTHERS
Parties
1st Plaintiff: Taihan Electric Wire Company Limited; 2nd Plaintiff: Taihan Global Holdings Limited; 1st Defendant: Lee Chi Yuen; 2nd Defendant: Mrs Lee; 3rd Defendant: Yuanzhi; 4th Defendant: Winful; 5th Defendant: D5; 6th Defendant: D6; 7th Defendant: D7; 8th Defendant: D8; 9th Defendant: D9; 10th Defendant: D10; 11th Defendant: D11
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
15 April 2013
Case Number
HCA454/2013
Procedural Posture
Civil Action for Fraud and Equitable Relief (mareva Injunction Application) / Inter Partes Hearing on Interim Mareva Injunction (application Dismissed)
Outcome
Application for an interim Mareva injunction dismissed
Legal Topics
Mareva Injunction, Abuse of Process, Urgency, Material Non Disclosure, Constructive Trust, Knowing Receipt, Dishonest Assistance, Conversion, Conspiracy to Defraud, Costs
Source Language
EN
Civil Equity Fraud Injunction Civil Procedure Mareva Injunction Abuse of Process Urgency +7 more

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Parties

Taihan Electric Wire Company Limited

1st Plaintiff

Taihan Global Holdings Limited

2nd Plaintiff

Lee Chi Yuen

1st Defendant

Mrs Lee

2nd Defendant

Yuanzhi

3rd Defendant

Winful

4th Defendant

D5

5th Defendant

D6

6th Defendant

D7

7th Defendant

D8

8th Defendant

D9

9th Defendant

D10

10th Defendant

D11

11th Defendant

Procedural Posture

Civil Action for Fraud and Equitable Relief (mareva Injunction Application) / Inter Partes Hearing on Interim Mareva Injunction (application Dismissed)

Legal Issues

  1. 1 Whether there was urgency to justify an interim Mareva injunction
  2. 2 Whether there was a good arguable case on the merits against each defendant
  3. 3 Whether there was real risk of dissipation of assets

Ratio Decidendi

The interim Mareva injunction was refused because plaintiffs failed to demonstrate urgency and there was an element of abuse of process and duplication with an earlier action; additionally plaintiffs lacked a sufficiently particularised good arguable case against several defendants and had materially failed to disclose adverse matters, such that interim freezing relief was unjustified.

Court Disposition

Application for an interim Mareva injunction dismissed

Orders

  • Interim Mareva injunction refused
  • Nisi order that the plaintiffs pay the defendants' costs of this hearing