8 Aug 2012
SHAGANG SHIPPING CO LTD v. GUOFENG ENTERPRISE GROUP LTD
- Citation
- SHAGANG SHIPPING CO LTD v. GUOFENG ENTERPRISE GROUP LTD
- Court
- Court of First Instance
- Case number
- HCMP536/2012
Shagang demonstrated genuine, serious and substantial cross-claims under COA 1 exceeding the statutory demand amount; the Relet Agreement and associated payments did not establish an assignment or novation binding on North China for the remaining shipments in the absence of North China's consent; the Loan Agreement was suspect and not shown to extinguish Shagang's claim; accordingly injunctive relief restraining presentation of the winding up petition was granted (order nisi).