EUROPEAN ASIAN BANK v. WO PING CHING t/a THE STANDARD CIVIL ENGINEERING CO. AND OTHERS

EUROPEAN ASIAN BANK v. WO PING CHING t/a THE STANDARD CIVIL ENGINEERING CO. AND OTHERS

The equitable assignment of the arbitration proceeds dated 8 December 1983 was effective on the award and consequent judgment; although contractual prohibitions can invalidate assignments, the assignment of future arbitration proceeds was not caught so as to defeat Superwealth's equitable claim, and antecedent equitable events prevented the resulting judgment debt from being attachable in Standard's hands, therefore the Master was correct to dismiss the Bank's garnishee application and grant Superwealth's intervention.

Citation
EUROPEAN ASIAN BANK v. WO PING CHING t/a THE STANDARD CIVIL ENGINEERING CO. AND OTHERS
Parties
Appellant / Judgment Creditor: European Asian Bank; Debtor: Wo Ping Ching trading as The Standard Civil Engineering Co.; Garnishee / Respondent: The Attorney General; Claimant / Intervener / Respondent: Superwealth Investment Company Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
20 August 1986
Case Number
HCA1273/1985
Procedural Posture
Appeal / Appeal From Interlocutory Decisions of Master Emerson (chambers Hearing)
Outcome
Appeal dismissed
Legal Topics
Assignment, Assignment of Future Property, Arbitral Award Converted to Judgment, Garnishee/attachment, Merger of Rights, Set Off
Source Language
EN
Contract Arbitration Civil Procedure Equity Assignment Assignment of Future Property Arbitral Award Converted to Judgment Garnishee/attachment +2 more

Case Brief

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Parties

European Asian Bank

Appellant / Judgment Creditor

Wo Ping Ching trading as The Standard Civil Engineering Co.

Debtor

The Attorney General

Garnishee / Respondent

Superwealth Investment Company Limited

Claimant / Intervener / Respondent

Procedural Posture

Appeal / Appeal From Interlocutory Decisions of Master Emerson (chambers Hearing)

Legal Issues

  1. 1 Whether assignments made in breach of a contractual prohibition on assignment are invalid and unenforceable
  2. 2 Whether an assignment of future/arising arbitration proceeds is caught by a contractual prohibition
  3. 3 Whether an arbitral award converted into judgment is attachable/garnishable by judgment creditors given antecedent equitable assignments

Ratio Decidendi

The equitable assignment of the arbitration proceeds dated 8 December 1983 was effective on the award and consequent judgment; although contractual prohibitions can invalidate assignments, the assignment of future arbitration proceeds was not caught so as to defeat Superwealth's equitable claim, and antecedent equitable events prevented the resulting judgment debt from being attachable in Standard's hands, therefore the Master was correct to dismiss the Bank's garnishee application and grant Superwealth's intervention.

Court Disposition

Appeal dismissed

Orders

  • Appeal dismissed
  • Order of Master Emerson dated 30 July 1986 granting Superwealth's intervention and dismissing European Asian Bank's application affirmed