Read the full judgment text of HCCT 43/2015 on BabelCite. This 高等法院原訟法庭 judgment was delivered on 22 August 2016 before Hon Lok J.
Construction arbitration — Share subscription and joint venture in mining project — Loan Agreement and Share Charge securing Sinom Investments Limited's obligation to CCMD Overseas Limited — Failure to obtain Domestic Loan financing and project production delay — Sinom's default in Loan repayment and alleged unfair prejudice claims — Application for interlocutory injunction restraining enforcement of Share Charge under Arbitration Ordinance s 45 — Court applies ordinary interlocutory injunction principles — Serious issue to be tried found not established as Loan Agreement fixed repayment date regardless of project status — Loan unrelated directly to conduct of company affairs — Equity declined to intervene to rewrite commercial agreements — Balance of convenience favours CCMD Overseas given Sinom's failure to meet financial obligations and inability to indemnify damages — Minority buy out and other reliefs unlikely and unsubstantiated — Injunction refused and costs ordered against Sinom.
Legal issues: Whether there is a serious issue to be tried to restrain enforcement of the Share Charge · Balance of convenience in granting interlocutory injunction
Outcome: Dismissal of Plaintiff's application for interlocutory injunction restraining enforcement of the Share Charge.
Cited by 2 cases · Cites 2 cases