30 Aug 2001
KENNIC LAI HANG LUI v. SUNLIGHT PAPER PRODUCTS CO. LTD.
- Citation
- KENNIC LAI HANG LUI v. SUNLIGHT PAPER PRODUCTS CO. LTD.
- Court
- Court of First Instance
- Case number
- HCMP2923/2001
The court doubted the validity of the clause 3.02 crystallisation notice because there was no evidence the lender reasonably considered specified assets to be in danger, but found that clause 9.01 empowered appointment of receivers once the security was enforceable; given the company's non‑cooperation and absence, the court granted the receivers' order in the form of the draft order with deletion of references to specific charged assets and confined to that part of the undertaking identified in the notices.