Read the full judgment text of HCAJ 000138/1986 on BabelCite. This HCAJ judgment.
1. This is a motion brought in an admiralty action in rem against the proceeds of sale of the motor vessel "FORTUNE FOUNDER". The claimant is a bank which claims under two mortgage agreements. There is no doubt that there is now outstanding a sum of US$456,972.24. I have already indicated that I am ready to enter judgment for that sum in default of acknowledgement of service. That sum is equivalent to something like HK$3.5 million.