2 May 2017
PRAISE FORTUNE LTD v. ALEGANA ENTERPRISES LTD
- Citation
- PRAISE FORTUNE LTD v. ALEGANA ENTERPRISES LTD
- Court
- Court of First Instance
- Case number
- HCA858/2017
The court found the conditions of Order 29, r6 were satisfied: the Pledgee did not dispute the Pledgor's title but only claimed a right to retain as security, the Pledgor paid the Sum into court based on the Pledgee's closing statement and the parties had agreed to terminate the loan, contractual provisions relied upon by the Pledgee did not negate this position, and therefore the Pledgee was ordered to transfer and deliver the pledged shares to the Pledgor upon the Sum remaining in court.