23 Dec 2016
WU YANG v. DAYUAN INTERNATIONAL DEVELOPMENT LTD AND OTHERS
- Citation
- WU YANG v. DAYUAN INTERNATIONAL DEVELOPMENT LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW103/2015
The petitioner is ordinarily resident outside the jurisdiction and his asserted Hong Kong asset (30% share in a private company) is insufficiently readily realisable to negate the need for security; the petition is complex so merits do not outweigh the need for security; overlapping cross‑claims justify reducing the quantum. Therefore security for costs is ordered in reduced sums: HK$1,500,000 for the New Bright Parties and HK$750,000 for the 4th Respondent, payable up to completion of discovery; costs nisi orders are granted against the petitioner for half the New Bright Parties' costs of th…