17 Oct 2022
A1 AND ANOTHER v. W1 AND ANOTHER
- Citation
- [2022] HKCFI 3173
- Court
- Court of First Instance
- Case number
- HCCT14/2022
On preliminary consideration the Awards concern contractual commercial rights under the SPA and do not constitute a direct or indirect adjudication of PRC tax authority functions; the commercial reservation, arbitrability and public policy grounds did not apply at this stage; defendants had not been forthright about Hong Kong assets and payments (monthly US$600,000 transfers) raising a real risk of dissipation; accordingly security was required and ordered as a condition of adjourning enforcement proceedings.