21 Mar 2002
BANK OF CHINA (HONG KONG) LTD. v. GUANGDONG WATER CONSERVANCY & HYDRO-POWER ENGINEERING DEVELOPMENT CO. LTD.
- Citation
- BANK OF CHINA (HONG KONG) LTD. v. GUANGDONG WATER CONSERVANCY & HYDRO-POWER ENGINEERING DEVELOPMENT CO. LTD.
- Court
- Court of First Instance
- Case number
- HCMP407/2002
The ex parte interim order was discharged because the Bank failed to disclose material information (the KPMG analysis showing substantial net liabilities even excluding potential government contract liabilities) which was relevant to the court's decision to grant the ex parte stay; despite discharge the court granted a fresh interim stay of the s.228A liquidation pending determination of the Originating Summons and ordered an inquiry into damages, given the subsequent progress of the petition and appointment of provisional liquidators.