6 Feb 2009
SHIRANNE HOLDINGS LTD v. NEW ASIA ASSOCIATES (HK) LTD
- Citation
- SHIRANNE HOLDINGS LTD v. NEW ASIA ASSOCIATES (HK) LTD
- Court
- Court of First Instance
- Case number
- HCA2125/2008
The stay was refused because the liquidators' offer to hold any surplus did not provide Shiranne with the means to realise its equitable lien without a court order; the liquidators failed to rebut Shiranne's entitlement with particularised allegations of fraud and the prioritisation and value of the bank's mortgage were speculative, so the court ordered the proceedings to continue to determine Shiranne's rights.