20 Aug 2014
GUANGDONG HONGCHANG IMPORT & EXPORT CO. LTD. AND ANOTHER v. ABLE SUCCESS ASIA LTD
- Citation
- GUANGDONG HONGCHANG IMPORT & EXPORT CO. LTD. AND ANOTHER v. ABLE SUCCESS ASIA LTD
- Court
- Court of First Instance
- Case number
- HCA2292/2013
The court rejected allegations of bad faith and ulterior motive, held the bonus shares fell within the definition of charged securities under the charge agreement, found no reliable evidence that the charged shares' value defeated enforcement, and therefore ordered the charged shares to be sold with conduct of sale vested in Skyway (sale in the market), varying injunctions as necessary; orders were made in terms of paragraphs (1)–(5) and (7) of the amended originating summons.