Read the full judgment text of FCMC 4264/2012 on BabelCite. This Family Court judgment was delivered on 15 March 2021 before His Honour Judge I Wong.
Freezing order – Matrimonial Proceedings and Property Ordinance – Section 17 – Dissipation of assets – Full and frank disclosure – Injunction – Ancillary relief – Wife applied for injunction to preserve matrimonial pot pending ancillary relief – Husband alleged dissipation of $2.3 billion shares to relatives – 4 Transfers and SZ Disposals discussed – Husband claimed financial difficulties but court found lack of full and frank disclosure – Companies held as worthless but held substantial assets – Whether injunction should be granted under Section 17 MPPO or Section 52B DCO – Whether tests differ – Whether there is real risk of dissipation of assets – Whether husband has intention to defeat claim – Burden on husband to show no intention – Whether scope of injunction is over-inclusive or requires ceiling figure – Whether undertaking as to damages required – Court held tests are similar – Court found sufficient evidence of risk and intention – Scope not over-inclusive given liquidity and jurisdiction – Undertaking not required – Injunction granted in terms of Summons – Costs awarded to Petitioner including certificate of two counsel
Legal issues: Test for injunction under Section 17 MPPO and Section 52B DCO · Risk of dissipation of assets · Intention to defeat claim · Scope of injunction · Undertaking as to damages
Outcome: Injunction granted; Costs awarded to Petitioner.
Cited by 2 cases · Cites 1 case