1 Aug 2025
HYALROUTE COMMUNICATION GROUP LTD v. INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LTD
- Citation
- [2025] HKCFI 2417
- Court
- Court of First Instance
- Case number
- HCCT155/2024
On proper construction of Clause 43.1 governed by Hong Kong law, the court must assess whether Cayman winding-up proceedings would be capable of 'finally resolving' the dispute; that assessment requires reference to Cayman law on finality/estoppel. Cayman law (as informed by Sian Participation and Re BPGIC) indicates winding-up proceedings do not finally determine the petition debt or create conclusive estoppel over substantive rights. Therefore the Defendant's presentation of Cayman winding-up proceedings would not breach Clause 43.1, the Plaintiff failed to show the high probability of succ…