31 Oct 2003
PANCO INDUSTRIAL HOLDINGS LTD v. DING PENG AND OTHERS
- Citation
- PANCO INDUSTRIAL HOLDINGS LTD v. DING PENG AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCL98/1995
The application to amend or to grant a fresh injunction substituting SFC for SCICL was refused. Although a good arguable case existed, the court exercised its discretion against relief because (i) the balance of convenience favored non-intervention given the real and substantial risk of severe harm to the market, innocent shareholders and creditors of an overseas listed company holding a 34.5% block, (ii) the ten-year delay and materially changed circumstances since the original 1993 order, and (iii) the proposed cross-undertaking (even if fortified) was inadequate to offset likely losses; ac…