25 Sept 2013
HYUNDAI ENGINEERING & CONSTRUCTION CO.,LTD v.UBAF (HONG KONG) LTD
- Citation
- HYUNDAI ENGINEERING & CONSTRUCTION CO.,LTD v.UBAF (HONG KONG) LTD
- Court
- Court of First Instance
- Case number
- HCA175/2012
The court granted the stay because the parties expressly agreed the back-to-back counter-guarantees were governed by the Uniform Rules which include Article 35 providing exclusive jurisdiction to the Mainland court; foreseeable inconveniences and risk of fragmentation did not constitute the very strong reasons required to displace the contractual forum choice; the independence of guarantees under URDG meant parallel proceedings were contemplated and therefore the stay in favour of the Luoyang Intermediate People\'s Court was appropriate.