Read the full judgment text of FAMV20/2018 on BabelCite. This Court of Final Appeal judgment was delivered on 7 May 2018 before Mr Justice Ribeiro PJ.
Civil procedure – stay of execution – payment out of court – pending leave to appeal – balance of fairness – fortification of undertaking as to damages – Cyberland (China) Ltd v Zhang Wei Bing – Applicant sought stay of payment out of HK$51,230,137 plus interest to respondent pending determination of leave application – Applicant claimed beneficial ownership of convertible bond, but claim dismissed by trial judge and Court of Appeal – Respondent Mainland resident with no substantial Hong Kong assets – Court held balance of fairness favoured grant of stay conditional on applicant paying further HK$3 million into court as fortification – Stay granted until Appeal Committee determination – Applicant to pay costs of application.
Legal issues: Stay pending leave to appeal
Outcome: Stay granted conditionally on payment of further HK$3 million into court as fortification.
Cited by 3 cases · Cites 2 cases