CHINA NONFERROUS METALS (HONG KONG) FINANCE CO LTD (In Liquidation) AND ANOTHER v. SOUTH-EAST ASIA INVESTMENT HOLDING CO LTD AND ANOTHER

CHINA NONFERROUS METALS (HONG KONG) FINANCE CO LTD (In Liquidation) AND ANOTHER v. SOUTH-EAST ASIA INVESTMENT HOLDING CO LTD AND ANOTHER

The application for a stay was dismissed because the defendants' appeal did not have a strong likelihood of success (being an appeal against judicial discretion), the defendants offered no adequate evidence of irrecoverable financial prejudice despite the plaintiffs having provided security for costs totalling $1,200,000, and a stay or vacating trial dates would prejudice trial preparedness and cause unjustified delay.

Citation
CHINA NONFERROUS METALS (HONG KONG) FINANCE CO LTD (In Liquidation) AND ANOTHER v. SOUTH-EAST ASIA INVESTMENT HOLDING CO LTD AND ANOTHER
Parties
1st Plaintiff: CHINA NONFERROUS METALS (HONG KONG) FINANCE COMPANY LIMITED (In Liquidation); 2nd Plaintiff: CHINA NONFERROUS METALS GROUP (HONG KONG) LIMITED (In Liquidation); 1st Defendant: SOUTH-EAST ASIA INVESTMENT HOLDING COMPANY LIMITED; 2nd Defendant: NG HON LEUNG
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
2 January 2013
Case Number
HCCL20/2002
Procedural Posture
Commercial Action No 20 of 2002 / Interlocutory Application for Stay of Execution Pending Appeal; Trial Fixed to Commence 3 June 2013
Outcome
Application for stay of execution dismissed; alternative application to vacate trial dates refused; costs awarded to the plaintiffs.
Legal Topics
Stay of Execution, Strike Out, Leave to Appeal, Security for Costs, Trial Scheduling
Source Language
EN
Civil Procedure Appeals Insolvency Costs Stay of Execution Strike Out Leave to Appeal Security for Costs +1 more

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Parties

CHINA NONFERROUS METALS (HONG KONG) FINANCE COMPANY LIMITED (In Liquidation)

1st Plaintiff

CHINA NONFERROUS METALS GROUP (HONG KONG) LIMITED (In Liquidation)

2nd Plaintiff

SOUTH-EAST ASIA INVESTMENT HOLDING COMPANY LIMITED

1st Defendant

NG HON LEUNG

2nd Defendant

Procedural Posture

Commercial Action No 20 of 2002 / Interlocutory Application for Stay of Execution Pending Appeal; Trial Fixed to Commence 3 June 2013

Legal Issues

  1. 1 Whether a stay of execution should be granted pending an appeal
  2. 2 Whether trial dates should be vacated pending the appeal
  3. 3 Whether the defendants have shown a strong likelihood of success on appeal

Ratio Decidendi

The application for a stay was dismissed because the defendants' appeal did not have a strong likelihood of success (being an appeal against judicial discretion), the defendants offered no adequate evidence of irrecoverable financial prejudice despite the plaintiffs having provided security for costs totalling $1,200,000, and a stay or vacating trial dates would prejudice trial preparedness and cause unjustified delay.

Court Disposition

Application for stay of execution dismissed; alternative application to vacate trial dates refused; costs awarded to the plaintiffs.

Orders

  • Application for stay dismissed
  • Alternative application to vacate trial dates refused