7 Mar 2018
LEHMAN & CO MANAGEMENT LTD v. EFFISCIENT LTD AND ANOTHER
- Citation
- [2018] HKCA 127
- Court
- Court of Appeal
- Case number
- CACV180/2015
The Court of Appeal held the judge did not err in law or in the exercise of his discretion in granting a stay: it was open to the judge to hear the application; the evidential finding that Lehman Management held the share as nominee for Mr Lehman meant there was, in reality, common ultimate beneficial ownership sufficient to permit a multipartite set-off; Effiscient had established sufficiently arguable claims against Mr Lehman to justify a stay; the stay should be subject to conditions requiring payment of outstanding instalments (with accrued interest) into court according to the existing s…