7 Mar 2023
ITIRO CORPORATION BVI v. THE OWNER AND/OR DEMISED CHARTERERS OF THE SHIP OR VESSEL “ANGELIC GLORY”
- Citation
- [2023] HKCFI 644
- Court
- Court of First Instance
- Case number
- HCAJ90/2020
The court held that the US$265,000 retained (Sum A) was not a cap on the Banks' taxed costs entitlement; the US$250,000 retained (Sum B) under the October Order was not retained exclusively for Itiro; the Banks were entitled to recover outstanding taxed costs of US$298,006.10 from the Proceeds (including Sum B if required); the remaining balance of Proceeds (with interest) was to be distributed pari passu among Diamlemos, Rudder, Itiro and Panthalassa taking into account Itiro's increased judgment sum; and costs were allocated between the parties as specified in the decision.
- Priority of maritime claims
- Payment out and distribution of sale proceeds
- Taxation of costs
- Construction of court orders
- Pari passu distribution
- Retention/security of proceeds