15 Jul 2015
L Y GROUP DEVELOPMENT LTD v. EAST CANTON LTD AND ANOTHER
- Citation
- L Y GROUP DEVELOPMENT LTD v. EAST CANTON LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA1428/2014
On the pleaded facts taken in the plaintiff's favour the deposits created an arguable equitable purchaser's lien over the Shares of Century Peace constituting an equitable charge; the holder of such a charge is entitled to preservation of its security and it is at least arguable that this jurisdiction can be exercised against third parties over whom the debtor has control where disposal would destroy the essence of the security; accordingly the interlocutory striking out applications against the 2nd Defendant failed and the plaintiff's amendment to join Century Peace was allowed, while the li…