26 May 2022
CITICORP INTERNATIONAL LTD v. TSINGHUA UNIGROUP CO., LTD
- Citation
- [2022] HKCFI 1558
- Court
- Court of First Instance
- Case number
- HCA1269/2021
The application to stay was dismissed because Hong Kong is the appropriate forum to determine the contractual issues arising from the Keepwell Deed and EIPU; a Hong Kong judgment would be admissible and useful evidence in the Beijing restructuring proceedings under the EBL, meaning Citicorp would be deprived of a legitimate juridical advantage if forced to litigate only in Beijing; on balance the advantages of allowing the Hong Kong action to proceed outweigh any disadvantage to Tsinghua.