19 May 2022
NEWOCEAN PETROLEUM CO LTD v. O.W. BUNKER CHINA LTD (in provisional liquidation) AND ANOTHER
- Citation
- [2022] HKCFI 1473
- Court
- Court of First Instance
- Case number
- HCA381/2015
The Court accepted the 2nd Defendant's credible evidence of the NEHL Group's insolvency and the resultant genuine risk that the Plaintiff would be unable to pay the 2nd Defendant's costs; the delay in bringing the application was explicable on the facts and not unduly prejudicial; accordingly security for costs was ordered from February 2022 to trial in a reduced amount (HK$4,000,000) to be paid into court within 28 days, and proceedings stayed until furnished.