6 Nov 2003
PARALLEL MEDIA GROUP PLC AND ANOTHER v. WORLD SPORT GROUP (ASIA) LTD
- Citation
- PARALLEL MEDIA GROUP PLC AND ANOTHER v. WORLD SPORT GROUP (ASIA) LTD
- Court
- Court of First Instance
- Case number
- HCA3405/2003
There was a serious issue to be tried that the company's affairs were being conducted in a manner unfairly prejudicial to the petitioners; the petitioners' undertaking to provide an open‑ended interest‑free loan removed the objection that damages would be adequate, and the balance of convenience favoured appointing a manager with limited, specified powers to pay existing and future liabilities to prevent imminent collapse of the company and loss of its principal asset; accordingly the interlocutory appointment of a manager was justified.