17 Dec 2024
UNION OVERSEAS LTD v. IFC DEVELOPMENT LTD AND ANOTHER
- Citation
- [2024] HKDC 2101
- Court
- District Court
- Case number
- DCCJ1316/2023
Credible objective evidence (nominal paid-up capital, absence of business presence or corroborating documents showing independent commercial activities, and lack of substantial assets) established a prima facie case under s905 Companies Ordinance that the plaintiff may be unable to pay the defendants' costs; security of $250,000 was appropriate and the Master's costs order was varied to reflect discount for improper material in the defendants' affidavit.