30 Jun 2006
STANDARD CHARTERED BANK (HONG KONG) LTD v. SWEETMART GARMENT WORKS LTD AND OTHERS
- Citation
- STANDARD CHARTERED BANK (HONG KONG) LTD v. SWEETMART GARMENT WORKS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA1807/2005
The court found that the plaintiff had established a good arguable case on the Guarantee claim and demonstrated a real risk of dissipation by the 2nd defendant based on the timing and nature of the transfer of shares, the attempted sale of the building, the 2nd defendant's involvement in related company and bank matters, multiple ongoing litigations and imminent substantial estate distributions; accordingly it was just and convenient to grant the mareva injunction sought, subject to previously ordered exceptions and the plaintiff's cross-undertaking.