27 Oct 2010
WANG RUIYUN v. GEM GLOBAL YIELD FUND LTD
- Citation
- WANG RUIYUN v. GEM GLOBAL YIELD FUND LTD
- Court
- Court of First Instance
- Case number
- HCCL16/2006
Although the defendant's failure to comply with orders was advertent and serious, the court exercised its discretion to set aside the interlocutory default judgment and the consequential damages assessment because default judgments are disfavoured and the plaintiff's late re-amendment to add a substantial claim weighed in favour of allowing a trial on merits; relief was conditional on stringent security — payment into court of HK$60,000,000 or an acceptable first class bank guarantee within 28 days — and other procedural conditions, failing which the judgments would stand.