21 Oct 2024
CTBC BANK CO LTD v. INDUSTRIAL AND COMMERCIAL BANK OF CHINA LTD
- Citation
- [2024] HKCFI 2820
- Court
- Court of First Instance
- Case number
- HCCL3/2024
Balancing the relevant factors the court concluded the defendant failed to show the Guiyang Court is clearly or distinctly more appropriate: CTBC has an independent entitlement to sue in Hong Kong under UCP 600, the Mainland proceedings do not necessarily determine CTBC's rights (limited participation and potential absence of res judicata), foreign illegality was not a good arguable case given factual uncertainties, and witness/documentary convenience did not displace Hong Kong as an appropriate forum; accordingly the stay was refused.