5 Feb 2016
CHINA METAL RECYCLING (HOLDINGS) LTD (in compulsory liquidation) AND ANOTHER v. CHUN CHI WAI AND OTHERS
- Citation
- CHINA METAL RECYCLING (HOLDINGS) LTD (in compulsory liquidation) AND ANOTHER v. CHUN CHI WAI AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA1412/2013
There is a triable issue and an ongoing risk of dissipation not adequately addressed by existing measures; appointment of interim receivers over R1,R2 and R5 would be proportionate absent adequate protection, but because R3 and R4 have not been served and Mr Fung offers to assume executive control and give a personal undertaking, the proper course is to adjourn the receivership application and require that personal undertaking as a condition to renewing the application together with proper service on R3 and R4.