13 Dec 2013
PONY HK WORLD LTD v. VAND PETRO-CHEMICALS (BVI) CO LTD AND ANOTHER
- Citation
- PONY HK WORLD LTD v. VAND PETRO-CHEMICALS (BVI) CO LTD AND ANOTHER
- Court
- Court of Final Appeal
- Case number
- FACV4/2013
The put option required a discrete triggering 'event'—properly understood as a refusal by NDRC to grant approval—capable of starting the 30‑day exercise period; a continuing omission or delay is not such an event; no refusal occurred and NDRC ultimately approved the change, so the put option was never triggered.