12 Jan 2021
SUNNI INTERNATIONAL LTD v. WIN HARVEST ENTERPRISES LTD AND ANOTHER
- Citation
- [2021] HKCFI 79
- Court
- Court of First Instance
- Case number
- HCA2380/2018
Given the plaintiff is an overseas company in liquidation with no assets and funding by self-interested funders does not negate the defendants’ right to obtain security now, and the proposed security (AFH shares) is not sufficiently realisable, the court exercised its discretion to order security for costs in a just reduced sum (HK$8.4 million), stayed proceedings pending payment and ordered dismissal in default; delay by defendants did not outweigh the insolvency factor.