26 Apr 2006
WORLD FUEL SERVICES (SINGAPORE) PTE LTD. v. THE OWNERS OF THE SHIP OR VESSEL “M.V. LIBERTY CONTAINER” AND ANOTHER
- Citation
- WORLD FUEL SERVICES (SINGAPORE) PTE LTD. v. THE OWNERS OF THE SHIP OR VESSEL “M.V. LIBERTY CONTAINER” AND ANOTHER
- Court
- Court of Appeal
- Case number
- CACV327/2005
Appeal allowed and the costs order against Florens set aside because the judge misapplied the Dymocks principle without regard to Hong Kong's Companies Ordinance s.265(5B); there was insufficient evidence that Florens substantially funded, controlled or was the principal beneficiary of the litigation to justify a costs order against it, and creditor funding in liquidation may be incentivised and protected under s.265(5B), so the discretion was wrongly exercised on the facts below.