1 Jun 2012
A O SMITH HOLDINGS (BARBADOS) SRL v. ZHANG DACHENG
- Citation
- A O SMITH HOLDINGS (BARBADOS) SRL v. ZHANG DACHENG
- Court
- Court of First Instance
- Case number
- HCMP1132/2011
The court found on the evidence, beyond reasonable doubt, that the defendant was the beneficial owner of the Chanitex shares at the time of the May 2011 transfer, that the transfer was made intentionally in breach of a served worldwide Mareva injunction, and that defenses of gift, nominee ownership and reliance on unrecorded legal advice were not credible; consequently the defendant was guilty of civil contempt and a custodial sentence was appropriate.