2 Oct 2008
CHINA MINSHENG BANKING CORP. LTD (SHENZHEN BRANCH) v. DICHAIN HOLDINGS LTD
- Citation
- CHINA MINSHENG BANKING CORP. LTD (SHENZHEN BRANCH) v. DICHAIN HOLDINGS LTD
- Court
- Court of Appeal
- Case number
- CACV156/2008
Clause 6 of the Subscription Agreement, read as a whole, showed the parties intended a pledge of the specified shares to Pearl Oriental coupled with an express power of sale, not an equitable charge; no valid pledge had been completed in favour of the appellants because there was no delivery or attornment to effect constructive delivery, and the Bank's Charging Order Nisi gives it a protectable interest; summary judgment obtained without disclosure of the charging order and related orders was set aside and the charging order made absolute in favour of the Bank.