27 Oct 2008
ACHIEVE GOAL HOLDINGS LTD v. ZHONG XIN ORE-MATERIAL HOLDING CO LTD
- Citation
- ACHIEVE GOAL HOLDINGS LTD v. ZHONG XIN ORE-MATERIAL HOLDING CO LTD
- Court
- Court of First Instance
- Case number
- HCA1987/2005
The application was dismissed because the applicants failed to demonstrate urgency or that the management deadlock had prejudiced Zhong Xin's interests (no evidence of asset dissipation, diminution or operational disruption attributable to the deadlock), remedial steps for the flooded mine were technical and underway, the opposing parties' undertaking to instruct PRC counsel was adequate in context, and appointment of interim receivers would not resolve potential conflicting instructions or satisfy PRC residency requirements for a legal representative.