30 Sept 2020
FIRST LASER LTD v. FUJIAN ENTERPRISES (HOLDINGS) CO LTD AND ANOTHER
- Citation
- [2020] HKCFI 2536
- Court
- Court of First Instance
- Case number
- HCA4414/2001
Unconditional stay refused; conditional stay granted — execution stayed provided defendants pay or furnish security of HK$518,000,000 less the US$9 million and accumulated interest already paid into court within 28 days, failing which payment into court of all sums levied on execution; defendants to pay plaintiff's costs for the application with certificate for two counsel, to be taxed if not agreed. Decision premised on lack of cogent evidence of impecuniosity, less than full and frank disclosure, and evidence of likely backing by Fujian Provincial Government justifying security.