28 Jun 1989
STATE BANK OF INDIA AND ANOTHER v. LISBELLAW LTD AND OTHERS
- Citation
- STATE BANK OF INDIA AND ANOTHER v. LISBELLAW LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP792/1989
An interest in textile export quota, though created as a public law privilege, is an assignable intangible proprietary right capable of being sold and charged; such an interest may be subject to a fixed charge where the chargee obtains control over disposition of the quota, and a fixed charge over quota not falling within the categories of s.80(2) Companies Ordinance does not require registration under s.80; on the facts certain instruments were fixed charges and the comparable debentures ranked pari passu.