24 Nov 2008
ACHIEVE GOAL HOLDINGS LTD v. ZHONG XIN ORE-MATERIAL HOLDING CO LTD
- Citation
- ACHIEVE GOAL HOLDINGS LTD v. ZHONG XIN ORE-MATERIAL HOLDING CO LTD
- Court
- Court of Appeal
- Case number
- CACV324/2008
The Court of Appeal allowed the appeal and appointed interim receivers and managers because the undertaking to instruct PRC lawyers was not an adequate alternative given real and material conflicts of interest and an entrenched deadlock affecting Zhong Xin's ability to defend and protect its interests in PRC litigation and CLB; interim receivers, aided by court directions, could properly protect the company's interests despite the deadlock.