4 Apr 2005
PAN GLOBAL LTD v. SILVER TECH INTERNATIONAL LTD AND OTHERS
- Citation
- PAN GLOBAL LTD v. SILVER TECH INTERNATIONAL LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA2429/2003
The appeal was dismissed because the 3rd Defendant demonstrated a properly arguable point—namely the lawful scope and effect of clause 5.7.1 of the guarantee in circumstances where loan proceeds may have been diverted—that raises a real prospect of success on the merits sufficient to support the Master's order setting aside the default judgment; the legal question as to whether the indemnity clause covers payments procured by fraud is not appropriate for summary determination.