10 Feb 2015
UNITED ASIA FINANCE LTD v. YIU TSZ NGAR
- Citation
- UNITED ASIA FINANCE LTD v. YIU TSZ NGAR
- Court
- Court of First Instance
- Case number
- HCA774/2014
The charging order nisi was made absolute because (1) a Mareva injunction does not prevent a creditor from obtaining a charging order as it creates no proprietary priority; (2) the applicant failed to demonstrate that making the order absolute would be disproportionate because there was insufficient evidence of unencumbered asset values and prior encumbrances; (3) there is no authority requiring a secured creditor to exhaust remedies against secured properties before seeking a charging order over other assets; and (4) there was no sufficient evidence of insolvency or other equitable factor to…