19 Dec 2016
CSSC HUANGPU WENCHONG SHIPBUILDING CO., LTD v. DRY BULK SERVICES LTD
- Citation
- CSSC HUANGPU WENCHONG SHIPBUILDING CO., LTD v. DRY BULK SERVICES LTD
- Court
- Court of First Instance
- Case number
- HCMP1626/2016
The court granted the worldwide Mareva injunction because the plaintiff demonstrated a good arguable case on the instalment claims and that the guarantees are on‑demand (rebutting the presumption), and on the whole of the evidence there was a real risk of dissipation arising from the defendant's restructuring and the migration of assets/activities to a newly incorporated related entity such that refusal of relief would risk any award or judgment going unsatisfied; comity concerns did not preclude relief given urgency and the court accepted the plaintiff's cross‑undertaking without fortificati…