22 Aug 1983
AYALA INTERNATIONAL FINANCE LTD AND REPUBLIC NATIONAL BANK OF NEW YORK v. CAINE TAI INVESTMENT CO LTD AND OTHERS
- Citation
- AYALA INTERNATIONAL FINANCE LTD AND REPUBLIC NATIONAL BANK OF NEW YORK v. CAINE TAI INVESTMENT CO LTD AND OTHERS
- Court
- Court of Appeal
- Case number
- CACV111/1983
The Court granted a stay of execution pending the appeal because the appeal raised substantial and bona fide points of law (notably under s.22 of the Deposit Taking Companies Ordinance and the validity of the guarantee) and because failure to stay posed a real risk of irreparable loss and would likely render a successful appeal nugatory; the trial judge's absence justified hearing the application in the Court of Appeal.