Read the full judgment text of CACV 225/2010 on BabelCite. This Court of Appeal judgment was delivered on 17 November 2010.
1. After the arrest of a vessel in South Africa by the plaintiff (“Parakou”), the plaintiff’s claim was secured first by a bank guarantee in South Africa, issued by the FirstRand Bank Limited dated 2 September 2009, then by a sum of US$44,412,905 paid into court in Hong Kong in early September 2010. The money in court was paid, pursuant to Stone J’s order of 3 September 2010, to be held: