30 Nov 2011
PONY HK WORLD LTD v. VAND PETRO CHEMICALS (BVI) CO LTD AND ANOTHER
- Citation
- PONY HK WORLD LTD v. VAND PETRO CHEMICALS (BVI) CO LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA996/2010
Clause 6.2A(ii) is to be construed as treating NDRC approval as necessary; Vand failed to procure Hans/Dongguan Dongzhou to take all reasonable steps as soon as possible and thereafter omitted to act with promptness such that a continuing omission in June 2009 constituted a triggering event under clause 6.2D(2); Pony validly served the put option notice within 30 business days and the put option was validly exercised, entitling Pony to the stipulated Put Option Price.