13 Jul 2023
BEI NI LTD v. CORNWELL (HONG KONG) LTD
- Citation
- [2023] HKCFI 1799
- Court
- Court of First Instance
- Case number
- HCA923/2022
The Huatai Share Charge was a fixed charge because Huatai had positive legal control over the charged shares and over sale proceeds which were automatically applied to reduce the margin debt; accordingly the Huatai Share Charge has priority over the plaintiff's P Charging Order and the Sum paid into court is to be paid out to Huatai; however no implied undertaking as to damages arose from the P Charging Order nisi and that limb of Huatai's application is dismissed.