16 Aug 2006
SHEN & ORS V AN YING GROUP LTD AND ORS HC AK CIV 2006-404-2558
- Citation
- openlaw-6cebc543_6714_438b_a9d1_c58d5f9ca662.pdf
- Court
- High Court
The court held that paragraphs 1.10-1.12 of the Mareva injunction should be discharged and replaced because the sale contract pre-dated the Mareva injunctions and completion should not be impeded; protection for plaintiffs is achieved by requiring the net proceeds to be held in a solicitors' trust account on interest bearing deposit (in joint names) not less than a specified amount, and by conditioning sealing of the order on an affidavit confirming the earlier agreement to mortgage and holding of $91,689.90 pending resolution.