5 May 2017
LI EN QIANG v. NOVA DIRECT INVESTMENT LTD AND ANOTHER
- Citation
- LI EN QIANG v. NOVA DIRECT INVESTMENT LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA1645/2016
The court granted the proprietary injunction because the plaintiff established a serious issue to be tried on beneficial ownership, the balance of convenience favoured preserving unique participating shares (damages inadequate) and it was just and convenient to do so. The court granted a Mareva injunction because there was a good arguable case of fraud/dishonesty and a real risk of dissipation given unexplained shortfalls and limited identifiable assets, so preservation of the status quo was necessary to prevent rendering any judgment nugatory.