27 Aug 2024
ZS CAPITAL FUND SPC AND OTHERS v. ASTOR ASSET MANAGEMENT 3 LTD AND ANOTHER
- Citation
- [2024] HKCFI 1535
- Court
- Court of First Instance
- Case number
- HCA1157/2020
Plaintiffs established a strong prima facie right to redeem the deposited shares and defendant had no arguable defence to defeat the equity of redemption; although defendant has an arguable case that the Proviso might be applied, that does not negate plaintiffs' entitlement to interim relief; after deducting loan proceeds, interest and agreed costs the court ordered interim payment of HK$115,300,000 and release of the proceeds in court to plaintiffs.