7 May 2004
DAIMLER CHRYSLER SERVICES CHINA LTD v. HARBOUR UNION INVESTMENTS LTD AND OTHERS
- Citation
- DAIMLER CHRYSLER SERVICES CHINA LTD v. HARBOUR UNION INVESTMENTS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCL34/2002
The court held the third party had established entitlement to security under section 357: the 1st defendant was effectively an asset‑holding vehicle controlled by Mr Ho, there was no established oppression, and the risk that the company could not meet an adverse costs order justified requiring security. The merits of the underlying claim were not decisive. The court fixed security at HK$1,450,000 and ordered payment into court or provision of an acceptable bank guarantee within 28 days, and granted costs to the third party of the application (order nisi).