15 Jul 2003
CREDIT LYONNAIS v. SK GLOBAL HONG KONG LTD
- Citation
- CREDIT LYONNAIS v. SK GLOBAL HONG KONG LTD
- Court
- Court of Appeal
- Case number
- CACV167/2003
The Court of Appeal allowed the plaintiff's appeal and set aside the lower courts' stays, holding that although the inherent jurisdiction to stay execution exists it should be exercised only in exceptional circumstances related to preventing injustice, abuse or where statutory insolvency processes are in place or imminent; the mere prospect of restructuring or majority creditor forbearance is insufficient to justify a stay of execution of a valid judgment.