20 Jul 2002
DISCREET LTD. v. GLOBAL ISLAND INVESTMENTS LTD. AND ANOTHER
- Citation
- DISCREET LTD. v. GLOBAL ISLAND INVESTMENTS LTD. AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCCT48/2002
The 6 July order made by Suffiad J, as corrected and returned to on 12 July, must be treated as a valid order; the material facts (technical insolvency, unexplained undervalue sale of major income-producing property immediately before arbitration, immediate withdrawals of deposited funds, transfers to director and related companies, and inadequate disclosure) constitute solid evidence of a real risk that the arbitration award would go unsatisfied; accordingly the Mareva injunction should be continued and the respondent required to preserve HKD 1000000, with costs to be costs in the cause.