2 Jun 2017
CITIBANK N.A. v. HUNTER SOCKS & APPAREL INTERNATIONAL LTD AND OTHERS
- Citation
- CITIBANK N.A. v. HUNTER SOCKS & APPAREL INTERNATIONAL LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP2063/2016
There is an arguable issue that calculation (crystallisation) of the indebtedness sued for on the mortgage may require determination of disputes arising from the FX derivative transactions; therefore further evidence and parallel FX proceedings in Hong Kong are necessary rather than an immediate stay or immediate continuation; the court directed the defendants to commence Hong Kong proceedings and file pleadings to resolve the crystallisation/no set-off issue and adjourned the substantive hearing with directions and timetable.